Bulgaria is already feeling the benefits of the euro even before its official introduction on January 1, 2026, said the Minister of Economy and Industry, Petar Dilov, during a roundtable discussion dedicated to small and medium-sized enterprises (SMEs) in the context of the eurozone.
The forum, jointly organized by the Strategic Institute for National Policies and Ideas (SINPI) and the Ministry of Economy and Industry, focused on the challenges and support policies for Bulgarian businesses.
Dilov highlighted the remarkable one-notch increase in Bulgaria"s credit rating from three leading rating agencies, describing it as a clear indicator of the growing international confidence in the Bulgarian economy. "Our expectations are that by the end of the year it may be increased by another notch, which would be the historically highest credit rating we have ever had", he commented, painting a picture of unprecedented success that will facilitate access to international markets and investments.
According to the minister, this is a sign of stability, responsibility, and predictability in Bulgaria, important factors for attracting foreign investments and developing local businesses.
Joining the eurozone, according to Dilov, will bring significant benefits to the Bulgarian economy as a whole, providing stability for both businesses and citizens. "Joining the eurozone will strengthen our economy and provide security for businesses and citizens, will facilitate trade, travel, and investments", he stressed. This is expected to stimulate trade relations with other eurozone countries, facilitate travel, and attract new investments.
The minister paid special attention to small and medium-sized enterprises (SMEs), describing them as the backbone of the Bulgarian economy. "Small and medium-sized enterprises… will be among the winners from the introduction of the euro, as the costs of currency conversion will be eliminated for them, which will also release significant resources that could be directed towards investments", said Dilov. The elimination of currency conversion fees will free up significant financial resources that can be reinvested in business development.
In addition, the common currency will facilitate their access to European markets, make trade faster and cheaper, and make contracts with foreign partners more secure. "The lower transaction costs and better financing conditions will give these companies more resources for investment, innovation, and expansion", added the minister. Higher competitiveness and a more confident presence in the domestic and foreign markets are additional expected benefits.
The Ministry of Economy and Industry is actively involved in supporting Bulgarian businesses in adapting to the eurozone. "Their main responsibility is to help Bulgarian businesses adapt more quickly in the conditions of the eurozone", said Dilov. The Ministry provides guidance and explanations for the correct application of dual price labeling and the smooth transition to the new currency, including prepared specific guidelines for accounting, information systems, and dual price labeling. A calculator has also been created to facilitate the transition to the euro for both businesses and citizens.
Minister Dilov also mentioned the initiatives to reduce the administrative burden, describing them as key to better interaction between businesses and the ministry. He recalled the Council of Ministers" decision for 235 measures in this direction and emphasized the close cooperation with businesses. Improving relations between businesses and trade representatives is another key area, according to him, because "for an economy and production to be successful, it must be export-oriented".
As an example, Dilov cited the significant growth in exports of the Bulgarian defense industry – from 650 million euros five years ago to 2.8 billion euros last year.
The focus on SMEs, support for their access to markets through the Office for Trade and Economic Issues, and the development of the National Industrial Strategy in cooperation with international partners and with EU funding were other key topics addressed by the minister. The National Industrial Strategy is expected to be ready by the end of the year, outlining the priorities and measures for maximum efficiency. The SME Development Strategy for the period 2021-2027 will be implemented through six main pillars: entrepreneurship, market access, access to finance, digitalization, environment, and business environment, said Minister Dilov.