Our accession to the Eurozone will have a positive impact on living standards, the business environment, and investment.

All sectors will benefit from the adoption of the euro, and the purchasing power of Bulgarians will increase. This was stated by the Minister of Economy and Industry, Peter Dilov, during an appearance on BNT’s morning programme “Denyat zapochva”.

He emphasised that regulatory authorities are already monitoring for unjustified price increases. No rise in electricity or fuel prices is expected, which means that retailers will have no basis to raise prices in shops. According to Dilov, this is currently being closely observed by the relevant institutions.

“Bulgaria could have saved 195 million euros per year if it had joined the Eurozone earlier. Small and medium-sized enterprises are fully prepared and clearly understand the benefits of the country’s accession. They are among the biggest beneficiaries. We are managing to save them nearly 1 billion leva in currency conversion costs,” the Minister of Economy commented.

Dilov highlighted that the Bulgarian economy is currently performing very well. As an example, he noted that in March, Bulgaria’s gross domestic product (GDP) had increased by 3.1% year-on-year. Furthermore, Bulgaria ranks second in the European Union in terms of the ratio between debt and GDP. The country is also actively working towards joining the Organisation for Economic Co-operation and Development (OECD), the Minister added. “If we manage to complete this circle of strategic priorities, our economy will undoubtedly perform significantly better,” Peter Dilov stated firmly.