Business is ready to join the Eurozone and will save millions in costs per year from this. This was stated in an interview with BNT by the Minister of Economy Petar Dilov.
According to him, the state is also ready with a protective mechanism for consumers to prevent speculation after the adoption of the single European currency from January 1.
The minister does not expect a serious impact on the Bulgarian economy for now due to the increased American tariffs.
- Let's start with the current issue of the Eurozone. What will happen to the Bulgarian economy?
- Bulgaria's accession to the Eurozone will certainly have a positive impact on both the economy and the people, as well as on business and the entire Bulgarian state. The facts show that on January 1, 2026, after the eventual accession to the eurozone, Bulgaria will wake up approximately 2 billion richer. The economy and citizens will certainly stop losing approximately 1 billion leva from converting levs into euros or vice versa. Bulgaria's credit rating is also expected to increase. Nearly half a million small and medium-sized enterprises operate in Bulgaria, which maintain accounts in two currencies - leva and euro. The abolition of this commitment will undoubtedly save companies about 100 euros per year.
- A survey showed that Bulgarians are not sufficiently informed about the euro. How is it with business?
- Business is aware of the benefits of the euro and has already made statements that it fully supports Bulgaria's accession to the eurozone.
- How much do you expect the gross domestic product to grow?
- In terms of GDP, the latest data show a 3.1% increase on an annual basis compared to March. This places us in the top places among EU member states.
- What type of investors do you expect to attract? We recently focused on high technologies, will this trend continue?
- The trend towards investments in high technologies remains. We have very good prerequisites here, because we have very well-prepared personnel in this field. We also expect investments in the defense industry, especially in the context of EU programs for secured financing in this sector.
- How does the so-called “trade war“ between the US and the EU?
- Bulgaria will not be directly affected by the imposed tariffs due to the low volume of both trade and exports.
- You said that no direct consequences are expected. And indirectly? Many Bulgarian companies work for countries like Germany and France, which communicate directly with the US. How will this indirect consequence affect?
- 64% of Bulgaria's exports are concentrated in EU member states, and in this regard we could expect possible indirect effects from a restructuring of supply chains or redirection of global trade flows, but the data we have is that despite the introduction of customs tariffs, the products that Bulgaria exports continue to be competitive, because other member states are also affected by customs tariffs.