Adoption of the Euro: Bulgaria Passes All Laws

All the necessary legislative acts and decisions for the introduction of the single European currency have been adopted, announced the Speaker of the National Assembly, Mrs. Raya Nazaryan, after a meeting with the European Commissioner for Economy and Productivity, Implementation and Simplification, Valdis Dombrovskis. This was announced by the press center of the National Assembly.

The Speaker emphasized that this key moment was achieved with the unanimous support of all Members of Parliament, who share the belief in a united and strong Europe and see the country's future within the framework of this community. Significant efforts are currently being made to conduct a large-scale awareness campaign to inform the public about the upcoming changes related to the introduction of the euro. Special attention is being paid to the elderly, to prepare them for a smooth transition, she added.

"We will continue to work intensively to ensure a smooth, transparent and successful transition to the euro," said Mrs. Nazaryan, quoted in the announcement.

The Speaker of Parliament expressed her gratitude to the European Commission (EC) and personally to Commissioner Valdis Dombrovskis for their invaluable assistance and excellent cooperation throughout the process of the country's accession to the Eurozone. "Your expertise and support were extremely valuable to us," she emphasized.

In recent months, the country has managed to make significant progress in the implementation of the measures set out in the Recovery and Resilience Plan, and to renegotiate some of them with the help of the European Commission. In addition, in July this year, the request for the second payment under this important document was sent, shared Mrs. Nazaryan. "We are ready with the reforms and measures for the third payment, and next week we will adopt on second reading three more draft laws, with which all the requirements for it are met," she added.

Valdis Dombrovskis noted that during his visit he received assurances from the government and the central bank that everything is going according to plan, and confirmed the European Commission's readiness to support the country in the process of smoothly introducing the euro. He emphasized the importance of the potential benefits of introducing the single currency and the opportunities for their utilization. According to him, the country is demonstrating very good results in terms of the fiscal framework. Currently, a major focus is being placed on the implementation of investments under the Recovery and Resilience Plan. The Commissioner added that the second payment request is being processed and its financing is expected, at least partially, in the coming days.

"I congratulate you on the tireless and purposeful work that has allowed Bulgaria to overcome political turbulence and take another step towards strengthening stability," Valdis Dombrovskis addressed the Speaker of the National Assembly. "Bulgaria has a few practical steps left and we wish you success as a future member of the Eurozone," he added.

The Deputy Speaker of the National Assembly, Prof. Kostadin Angelov, also took part in the conversation.

Commissioner Dombrovskis took part in a high-level conference dedicated to the introduction of the euro. The event was held at the "Boyana" residence as part of the National Campaign of the Ministry of Finance and the central bank for the introduction of the euro from January 1.

The conference began with an opening session, in which the Prime Minister and the Managing Director of the International Monetary Fund participated. The President of the European Central Bank, who made her first visit to the country, also gave a speech.