The high-level conference “Building Resilience Together: Bulgaria's Membership in the European Stability Mechanism (ESM)“ is taking place today in Sofia. The forum is jointly organized by the Ministry of Finance of Bulgaria and the European Stability Mechanism.
The conference was opened by Prime Minister Rumen Radev. The forum is also attended by the Minister of Finance Galab Donev and the Executive Director of the European Stability Mechanism Pierre Gramegna.
Among the main topics of the conference are the institutional integration of the eurozone countries and the financial sustainability of Bulgaria. Special attention will also be paid to the coordination between the Ministry of Finance and European partners, as well as the need to maintain a balance between fiscal discipline and economic growth.
At the opening of the forum, the Prime Minister stated that the country should take advantage of its membership in the mechanism and the eurozone by developing its industry, technologies and competitiveness. According to him, this is an extremely important conference, which is a recognition of Bulgaria's efforts to date and outlines our prospects in the EU, in the Economic and Monetary Union.
According to him, Bulgaria's accession to the ESM as the 21st member is an important stage in the country's economic integration. Bulgaria officially became a member of the mechanism on June 29, 2026, after joining the eurozone at the beginning of the year.
„The acceptance of Bulgaria as the 21st member of the European Stability Mechanism is an important event for us, and our full integration into the Economic and Monetary Union is a decisive step in our economic development. We have come this far at a price that Bulgarian citizens continue to pay. Therefore, our acceptance is an expression of gratitude not only for the quality of our institutions and the sustainability of our economy, but also for the stoicism of the Bulgarians“, said the Prime Minister.
Radev also defined membership in the ESM as an additional guarantee in the event of economic and financial difficulties. According to him, the mechanism allows member states to rely on a tool for crisis response, but at the same time sets a requirement for responsible management of public finances.
“Admission to this mechanism brings peace of mind, which every economy needs. It is also an important tool that every member state can rely on when needed to overcome and deal with crises, but for us in Bulgaria this membership is above all a responsibility“, said Radev.
In his words, this responsibility is expressed in maintaining sustainable and stable finances and in the constant development of the economic system. He pointed out as the government's priorities the efforts to maintain sustainable and stable finances and the responsibility for understanding that a system can only be stable if it is continuously developed and improved.
He linked membership in the eurozone and the ESM with the opportunity for Bulgaria to attract more investment. According to Radev, using the advantages of European economic integration should be part of a broader strategy for changing the model of economic development.
“We are making efforts in our government to overcome the challenges of the deficit and return to a sustainable financial system - predictability of the tax system and regulations, strengthening the rule of law and improving the regulatory framework and taking advantage of the advantages that membership in the eurozone provides when it comes to attracting investments“, said Radev, defining the priorities as a strategic goal of the country.
In his speech, the Prime Minister also emphasized the need for a change in the way the Bulgarian economy develops. According to him, the country should focus on higher productivity and competitiveness, technology implementation, attracting investment in key industries and promoting exports.
“Our effort is to transform the model of economic development from a model based on consumption and redistribution to another model. A model of qualitatively new economic development with high economic growth, which is based on higher productivity, higher competitiveness, the implementation of high technologies, attracting investment in fundamental industries, high technologies and stimulating exports“, the Prime Minister pointed out.
According to him, the sustainability of the European economic system also depends on the ability of individual countries to develop their own strengths. He stressed that this should happen not only in the national interest, but also as part of the overall development of the European Union.
The Prime Minister also emphasized Bulgaria's geographical location. According to him, the country has opportunities to take advantage of its position as a link between Europe, Asia, Africa and the Middle East. He pointed to the development of transport and digital connectivity as part of the opportunities for economic growth.
Radev also referred to the initiative for intercontinental connectivity, for which the President of the European Commission Ursula von der Leyen indicated Bulgaria as the host of a future summit. According to the Prime Minister, Bulgaria also has the opportunity to develop its role as an energy center. He pointed to gas connections, nuclear energy and the presence of a large refinery in the region as elements of the country's energy infrastructure.
Radev also stated that when distributing funds for competitiveness, a balance must be sought between the interests of the largest European economies and those of countries like Bulgaria.
“We must find a way for these funds to be distributed so that they do not go only to the largest European concerns, only to the most developed countries, but so that Bulgaria also has the opportunity to benefit from them“, he said.
According to him, the EMC can also play a role through its expert assistance in building financial and investment mechanisms that would allow Bulgaria to use European instruments more effectively.
He pointed to Bulgaria's advantages as the trained workforce, the existing energy system and the industrial infrastructure. According to him, the interest of European companies in Bulgaria is increasing, and the country must create conditions for this interest to turn into real investments.
“We have interest from European companies, we have good conditions, we have speed for accession, we have prepared people“, said the Prime Minister.
Radev stated that the country must actively participate in the discussion of European policies and propose strategic solutions. According to him, the development of defense capabilities and the protection of the EU's external borders are among the areas in which greater coordination and solidarity between member states is needed. In this context, the Prime Minister stated that Bulgaria expects European solidarity to be reflected in the allocation of resources.
“We have what is critically important for these new industries - data centers, artificial intelligence factories. We have the prepared people, so we will also rely on the support of the mechanism to use all these advantages as soon as possible, so that Bulgaria can take its rightful place in this mechanism and in Europe in general - a country that not only generates stability in the financial sphere and stable economic development, but also as a country that is constructive, active and generates solutions with strategic value for the future of the EU. For all this to happen, we need this stability,“ said the Prime Minister.
Radev also thanked the Executive Director of the European Stability Mechanism Pierre Gramegna and the mechanism's team. He stated that Bulgaria will seek expert support for the development of public-private partnerships and for attracting private capital from Bulgaria and abroad.
According to him, such instruments can be used in the construction of critical infrastructure, transport connectivity and energy projects, as well as in the mobilization of additional financial resources.
“Bulgaria's goal is to be a strategically important place, to have developed infrastructure, stable industry, leading technologies, sustainable finances - an extremely important unit for the stability of Europe and for the future of Europe“, the Prime Minister concluded.