The adoption of the euro in 2025 is a possible and realistic scenario. This was stated by Dimitar Radev, Governor of the BNB, in an interview with the magazine. “Economics.”
See the full text of the interview here:
Mr. Radev, to what extent is Bulgaria ready to join the euro area at this time?
As a technical infrastructure and logistical preparation, the level of readiness is very high, at least in terms of the BNB and the banking sector, which are major factors in this process. Our technical readiness must be supported by adequate political action.
In mid-April this year, you predicted that Bulgaria will enter the euro area probably next year, but not in the beginning, as the initial expectations were. Does this forecast remain valid now?
Yes, and at the moment, this is a realistic scenario.
Political and governance rotations have delayed the adoption of the Euro Act. What do you think as governor of the BNB is important to be present in it?
The draft Law on the introduction of the euro has already been through the procedures of interdepartmental discussion and public consultations, as well as through the consultations with the ECB and the EC. It regulates the administration of the process of introducing the euro. From the position of the BNB, everything that needs to be included is already present in the project. I see no reason why it should not be accepted until the end of the summer.
