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The positives of Bulgaria's entry into the Eurozone dominate any risks.

It will be a clear signal that Bulgaria wants to be part of the core of European processes, to be an effective participant in them, and not to be on the periphery.

This was stated by the Acting Deputy Prime Minister for European Funds Management Atanas Pekanov

Atanas Pekanov is an economist at the Austrian Institute for Economic Research (WIFO), in Vienna, at the conference "Bulgaria in the Eurozone - advantages and opportunities", which is being held today in Sofia, BTA reported.

Entry into the Eurozone will be a significant reputational bonus for our country, it will increase confidence in our country, as well as Bulgaria's credit rating.

This, in an environment of rising interest rates, will keep interest rates lower, both for the state and for citizens and households, noted Pekanov.

He added that our country's entry into the Eurozone will be a significant bonus and impulse for all export-oriented small and medium-sized enterprises, it will also help tourism, and it will be pressure for reforms in our country, which is correct and positive.

The Deputy Prime Minister also emphasized that, in addition to business, our country's entry into the Eurozone will also have a positive effect on the convergence of incomes.

Pekanov thanked for the responsible and mature position of the largest trade union in Bulgaria - KNSB for their support for the process of joining the Eurozone.

This will lead to higher economic activity, employment and income growth.

Joining the Eurozone from the moment all salaries are already in Euros will enable both comparability and more transparency in comparisons with average European incomes.

The advantages that the Eurozone provides for Bulgaria will be discussed at a conference in Sofia

As for the risks, Pekanov said there are risks with any big process.

"We cannot remain silent about them, but they are not the ones that are being talked about - such as increasing inflation," the deputy prime minister pointed out.

According to him, there is no such trend in the other countries that adopted the euro.

These are fears that are fueled, but their empirical basis cannot be found, the deputy prime minister said.

According to him, there may be a risk of speculation in individual outlets, but this is something that institutions should prevent.

Pekanov thanked the Ministry of Finance and the Bulgarian National Bank (BNB), who are preparing our country and all institutions for the admission of our country to the Eurozone. 

Atanas Pekanov

Bulgaria in the Eurozone

entry into the Eurozone

the euro area