Before requesting an extraordinary convergence report on our membership in the eurozone, the group of finance ministers of the member states must have said "yes". In 2023, there was another consultation with the EU about whether we were ready and after receiving a negative comment, we did not submit a request. There is no way we can apply for a convergence report, since we do not even have a financial plan for 2025. This was said in the studio of "Hello, Bulgaria" on Nova TV by the executive director of the Union for Business Initiative, Mihail Krastev.
"What will the EC and the ECB assess when compiling our two necessary convergence reports? We cannot say what our chances are for a positive response until a vision for the coming years is presented. At the end of January, we still do not know what budget will be submitted. There is no way that some of the promised increases in salaries and social payments will not be cut if we want to enter a more conservative scenario, especially given that we spend more than we collect," he added.
Economist Nikola Yankov, in turn, pointed out that joining the eurozone is 90% a political process that depends on factors within Bulgaria. "We must assume that we will comply with the rules set out in the Maastricht Treaty - a balanced budget and a deficit below 3%. Croatia did not meet two of the criteria for its accession - those related to the debt-to-GDP ratio, as well as inflation. However, when assessing readiness, the country turned out to be suitable for accession. I do not think that any European representative has said that we are not ready for the eurozone, so that we should not ask for a report. This is a smokescreen to justify the political decision not to ask for one. GERB is following in the footsteps of Asen Vassilev. It is difficult for Bulgaria to get out of the situation of the budget deficit, which will probably exceed 3%. It is a big risk to say that the increase in salaries in the public sector and pensions will not happen. It is not clear how much the revenue is, but the expenses have already been outlined," he also commented.