Bulgaria’s National Assembly tasked the government with speeding up the process of adopting the single European currency on January 1, 2024 and set the exchange rate at 1,95583 Leva for 1 Euro. The proposal was put forward by the largest Parliamentary group GERB/SDS. 157 MPs voted in favour, 28 MPs voted against and 23 MPs abstained.
The Parliament’s decision tasks the government and the Bulgarian National Bank with speeding up the consultations and negotiations with the European institutions and the euro area countries on Bulgaria's accession to the eurozone.
The Bulgarian Socialist Party and "Vazrazhdane" party expressed concerns that the euro might not be adopted at the current exchange rate, which was introduced by the Currency Board. However, the majority of MPs rejected these speculations during the discussions.
The Association of Bulgarian Tour Operators and Travel Agents (ABTTA) expects tourism growth in Bulgaria to slow down due to the unfavourable economic situation in many of its source markets. It is not yet clear what effect Bulgaria's accession to the..
The expected adoption of the single European currency from January 1, 2026 is one of the many topics dividing society. In addition to being a cause for political quarrels, the euro is also a cause for concern among some Bulgarian..
At the end of 2024, Bulgarians' wealth hit a record high of 1 trillion leva (€511.29 billion), which is five times higher than the gross domestic product. According to a study by the Expert Club on Economics and Politics, reported by BNR's Natalia..
The positive convergence report will have a positive impact on people's standard of living and purchasing power, as well as on the country’s business..
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