We all expect the reports of the European Central Bank and the European Commission, which will be presented on June 4, to be positive. The hope is that from January 1, 2026, Bulgaria will become a member of the Eurozone. He said this in an interview for the program "Newsroom" on Radio "Focus" financial expert Mika Zaikova.
According to her, our country urgently needs a stable foundation, which membership in the Eurozone can provide.
"We are bad in terms of investments – there is a withdrawal of investors. By entering the Eurozone, Bulgaria will stand on a stable foundation and will be able to attract serious investors. This will automatically increase the level of our economy. Investors will have certainty – that there will be no sudden changes, since our fiscal policy will be under the supervision of the European Central Bank“, emphasized Zaikova.
She also refuted the widespread opinion that entering the Eurozone means a loss of sovereignty:
"It is wrong to claim that we will not be able to make our own budget. On the contrary – we will prepare it, but the ECB will monitor whether the deficit is within the permissible limits – up to 3%, as well as other key indicators.“
According to the expert, membership in the eurozone will also significantly reduce the cost of external financing:
"Currently, Bulgaria maintains a BBB rating in the hope that we will enter the Eurozone, but we are taking out loans with interest rates of 4 percent or more. After membership, we will be able to finance ourselves at interest rates between 1.5 and 3% – this means saving billions of leva in interest payments.“
Zaikova emphasized that even these two effects alone – attracting investors and lower interest rates – will give a strong boost to the Bulgarian economy.
"Prices are growing at breakneck speed – speculation must be controlled“
The financial expert expressed regret that Bulgaria was late with the explanatory campaign around the introduction of the euro. She also pointed out the specific risks if the new antimonopoly and consumer commissions do not work effectively:
"Currently, the prices of basic goods from the small consumer basket are growing at a breakneck pace. This is pure speculation and a cartel agreement. The commissions must enter into their role immediately. So far, we have not seen anyone convicted of speculation or a cartel agreement. We need mature reforms - both in the commissions, in the prosecutor's office, and in the court. No one can be held responsible for this robbery of the Bulgarian people."
She was categorical that the euro is not the reason for the high prices: "The euro is not our fault. It is our own fault that we tolerate corruption and speculation.“
Salaries, trust and monitoring by the ECB
Mika Zaikova also commented on society's expectations for income growth:
"People hope that when large investors come and profitable enterprises start to appear, salaries will increase. Currently, we have convergence in prices, but not in incomes.“
Regarding society's fears, the expert said:
"I understand people's concerns - they do not believe in our justice and institutions. The commissions have so far either been dozing off or have been in agreement with those who speculate. Our entry into the Eurozone also means monitoring by the EC and the ECB. It will be much more difficult for speculators to act with impunity. When Bulgarians see the real results, then they will calm down. Now they are worried, but I ask them – let's be patient, before we step in and this government gets stronger and starts explaining to the people what will happen to them“, appealed Mika Zaikova.