„Decreasing inflation makes our way to the Eurozone faster and safer. We are already below the Eurozone average inflation on an annual basis. We do not yet meet the Maastricht inflation criterion for entry into the Eurozone. And it represents the three countries with the lowest inflation plus 1.5%. We are 0.4% apart, still higher. I hope that inflation in Bulgaria will continue to fall in the coming months.“
This is what he said in the show “Face to face“ the economist Rumen Galabinov.
„Towards the middle of this year, when we take inflation into account in June, I think we will have narrowed this difference completely. And we may even be fully in fulfillment of the criterion. If, in the meantime, we get this so-called Convergence Report that we're waiting for, which should come in literally the next couple of weeks, and if that report catches some periods that are a little behind, then it will report that we're higher. However, we can request a second Convergent Report”, the economist also explained.
In his words, from the point of view of macroeconomic criteria, we have an advantage:
„We are facilitated by the currency board, the fixed exchange rate to the leva, the interest rates, which are stable, and our budget deficit. We will also meet the inflation criterion. Economically and financially, we are ready to enter the Eurozone, but a much bigger campaign must be conducted – information for citizens and companies“.
According to Rumen Galabinov, our entry into the Eurozone will bring many benefits to society.
„Reduces transaction costs - for people, it is another coordinate system in their monetary relationships, because the euro is the currency of nearly 400 million Europeans who use it in one way or another. Here it is of great importance that the income policy continues, that is, that people are convinced that we will not get poorer when we enter the Eurozone. In Croatia, there were also such concerns, but it did not happen”, the economist explained.