Bulgaria is on the verge of replacing the leva with the euro. Data on the average annual inflation in all countries in the eurozone were released on Friday and according to them, we are 0.14% away from meeting the requirements. At the moment, the lowest level is reported in Italy, Lithuania and Finland. Financier Lyubomir Datsov commented on the topic.
„Entering the eurozone is a political act, it is not even about meeting an economic criterion. Publications in the media make it out that you meet it and go ahead. It is not so. The euro is not just a change of banknotes. Something similar happened in 1997, when we devalued the leva. There are processes behind this. The real participation in the eurozone is actually in its institutions“, he said.
„The criterion itself is price stability. But it is much more important that inflation is sustainably low in the country, not due to temporary factors“, Datsov pointed out.
According to him, the country currently has the average inflation rate in Europe, and from the point of view of the criterion, the difference is 0.1%. “We cannot say whether we have fulfilled the criterion, because we do not have the right. This is delegated to the people who accept us – the European Commission and the European Central Bank“, the financier added.
Lyubomir Datsov noted that Bulgaria already has a schedule and approval must be received by mid-year. “Then, from the beginning of 2026, the euro can enter circulation in the country“, he said.