''The loss from Bulgaria's delayed membership in the Eurozone and Schengen is between 4% and 5% of the country's GDP'', Bulgaria’s Minister of Finance Assen Vassilev said in an interview for Nova TV. ''The business loses between EUR 250 million and EUR 500 million just from currency conversion. Separately, delaying eurozone membership leads to higher interest rates and less investment'', Minister Vassilev said.
The losses stemming from Bulgaria’s delayed membership in Schengen are also huge, Minister Vassilev said with regard to the government’s draft decree, according to which Bulgaria should include in an official document the date January 1, 2025, as a target date for adopting the euro. Assen Vassilev said that this act is necessary, because the caretaker cabinet had not written down the date January 1, 2024, as the target date for Eurozone membership, and because it had drafted a budget with a 6.4% deficit.
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in Sofia between Deputy Minister of Agriculture and Food Lozana Vasileva and Wan Lejun, Chief Animal..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for Reconstruction and Development President Odile Renaud-Basso said in an interview with BTA. The..
Bulgaria's Ministry of Transport has been working for years to develop Corridor No. 8, connecting the Adriatic with the Black Sea through Albania, North Macedonia and Bulgaria. Of the 1,220 km of railway line along the corridor, 747 km are on the..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for..
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in..
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