Joining the eurozone will provide Bulgaria with stability as part of the common currency area, said Christine Lagarde, President of the European Central Bank (ECB), in a press conference following an ECB interest-rate meeting, according to BTA. She noted that the ECB’s primary task is to maintain price stability in the medium term, which would also benefit Bulgaria.

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Lagarde expressed confidence that adopting the euro would bring significant advantages to Bulgaria, while emphasising the importance of proper management during the transition to the new currency.

She emphasised that this step would give Bulgaria a say in key decisions regarding the eurozone’s monetary policy and economic stability. Reflecting on other countries’ experiences with euro adoption, she said: 

‘Initially, there were concerns. However, the euro has delivered substantial benefits, facilitating trade and business by eliminating the need for currency exchange and increasing people’s mobility. Now Bulgaria will be part of a market of 350 million consumers, opening up new opportunities for investment and growth”.