In an interview with the newspaper “24 CHASA“, published on July 9, 2025, the Chairman of the Fiscal Council Simeon Dyankov commented that Bulgaria's accession to the eurozone is the result of many years of financial discipline and stable fiscal policy. He emphasized that the process began back in the 1990s, when Ivan Kostov was the Minister of Finance, and continues consistently to this day.
According to Dyankov, Bulgaria met the criteria for joining the eurozone back in 2008, and in recent years has followed good budget practices. He calls the introduction of the euro "deserved recognition" for the stability of public finances in our country.
“After joining Schengen, we are now like any other European country. "This appeals to the majority of the population, although there are also political opponents," Dyankov says.
He also draws attention to the political value of this act, pointing out that the success was achieved thanks to the joint work of the so-called "old" parties - GERB, DPS, BSP and "Democratic Bulgaria". "These parties have shown that together they can do a lot. They don't need crutches", he says, referring to the smaller parliamentary formations.
Regarding the fear of inflation, confusion over double pricing and possible speculation, Dyankov admits that the information campaign started too late and was insufficient. He emphasizes the need for increased participation of experts, public figures and the media in the explanatory process in order to avoid conspiracies and distrust.
“Our banking system is prepared. I have no doubt that it will cope with the technical challenges“, assures Dyankov and adds that certain difficulties – such as queues in front of banks and ambiguities around returning change in euros – are normal and short-lived.
The interview also discusses proposals for new fiscal policies. Among them is the idea of taxing banks' excess profits – a measure that has already been adopted in several European countries. Dyankov also said that the Fiscal Council is preparing an analysis based on the Danish model, where administrative expenses are cut annually by 2 percent, without affecting sectors such as education, culture, pensions and healthcare.
When asked whether the introduction of the euro could lead to early elections, Dyankov replied categorically: “I do not see the possibility of early elections. All parties, both ruling and opposition, benefit from entering the eurozone.“
Simeon Dyankov was appointed Chairman of the Fiscal Council by the National Assembly in March 2025. In the past, he was Deputy Prime Minister and Minister of Finance in the first government of Boyko Borissov, as well as a long-time economist at the World Bank.