Fri, Feb 10 2012

BULGARIA COULD JOIN EURO ZONE AHEAD OF OTHER EU COUNTRIES

Wed, Oct 05 2005 01:00 CET

1382 Views 1 Comment

Bulgaria might accept the Euro before Poland, the Czech Republic and Hungary. The country may join the euro zone in 2009. This would be one of the main challenges in the strategy of the Bulgarian National Bank (BNB), BNB representative and advisor Kalin Hristov said. Hristov said that countries from the second enlargement wave, such as Poland and Hungary were responsible for postponing their own entry to the euro zone. Accession documents state that these countries could accept the euro as early as 2006 or 2007. Their central banks, however, are delaying the process.
Because of the currency board, Bulgaria might be ready to accept the euro earlier. After Bulgaria had joined the EU, it would no longer be possible for the lev to lose its value, Hristov said. The current exchange rate, 1.95583 leva to one euro, would be maintained after January 1 2009, the BNB strategy states. The main obstacle to joining the euro zone is the current low income of households. European specialists warn that investment in human capital and the intensification of industry is more important for Bulgaria than infrastructure projects, Standart newspaper reported.

  • Print
  • Send via email
  • Translate to
  • Share:

Comments

Anonymous John Sun, Feb 21 2010 16:26 CET
Report Comment

Good news.


To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

More in this category

US embassy in Sofia announces youth essay contest

Works will be reviewed by a group of judges, and winners will receive certificates and prizes.

Bulgarian police bust drug distribution gang in ‘Operation Hammer’

Seven arrested, including ‘The Squirrel’ who was found in possession of 10 00 euro, Interior Ministry says. Mobile phones, computer equipment and drug paraphernalia seized.

Bulgaria’s winter weekend weather – cloudy and cold with light snow

Maximum temperatures across the country will remain mostly below zero.

Mild earth tremors in Bulgaria on February 10

The first tremor was at about 12.34am, followed by another three minutes later. Their epicentres were located between the towns of Radnevo and Topolovgrad.

Bulgaria halts electricity exports after power plant accident

There was no risk of blackouts caused by insufficient power supply, Economy Minister Traicho Traikov told Bulgarian National Radio.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.