The eurozone gives our political elite greater participation in decisions that are made at the European level regarding the policy of the European Central Bank, regarding the greater integration of the Bulgarian state in political and economic decisions that are made at the European Union level.
This was said by the economic expert and executive director of the Union for Business Initiative Mihail Krastev in the program "Bulgaria, Europe and the World in Focus" on Radio FOCUS.
The positives of the country's entry into the eurozone are related to the greater attractiveness of the Bulgarian market and to the greater number of investments that could be attracted.
Since the announcement of the positive convergence report on Bulgaria's accession, the Bulgarian Stock Exchange index has started to grow, Krastev recalled.
"If we have any measure of how the markets assess the country's accession to the eurozone, it is the index, as in recent months we have noticed a growth of over 50%", he explained.
The risks of joining the eurozone are related to the higher inflation generated.
"It is not due to Bulgaria's accession and the currency revaluation. In a normally functioning market economy, this should be quickly eliminated. There is no need for the state to try to control prices, to impose any restrictions, as this does not work and could cause more harm than good“, warned Mihail Krastev.
The economic consequences of the country's entry into the eurozone are rather positive. Bulgaria is a small and open European market and when the economy in Germany and the other main economic counterparties suffers, the economy in Bulgaria also suffers in terms of the industrial production index. The other sectors of the Bulgarian economy, in his words, are developing well and they are driving the growth of the economy.
"We should not pay so much attention to where we are in the European Union in terms of economic growth. It is important that it grows, but it is even more important that we take into account the real growth of the economy, imposing policies on public finance management“, explained Krastev.