Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Bulgarian National Bank, commercial banks work to make Bulgaria ready for the euro

Dimitar Radev, governor of the Bulgarian National Bank
Photo: BTA

On Banker's Day, December 6, the governor of the Bulgarian National Bank (BNB), Dimitar Radev, congratulated all those working in the  banks in the country. 

"The banking sector continues to be in a very strong condition and is a major factor in the implementation of the most important priorities for the country, including joining the Eurozone," Radev told BGNES. 

For the governor of the BNB, the capital adequacy, liquidity and profitability of the banks in Bulgaria is above the average level in the EU. 

In an interview with 24 Chasa daily, the chief banker stated that if he had not been sure of the country's real chances of entering the Eurozone, he would not have accepted a second term as the head of the BNB. "The stability of the Bulgarian leva is a function of the stability of our reserve currency (the euro). What will happen is that our reserve currency, the euro, will become the national currency," emphasizes Radev. For him, "inflation remains a problem" because of "not a good synchronization between the fiscal and monetary policies".



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Bulgarian business is looking to hire 261,926 new workers and professionals

In the next 12 months, the Bulgarian business needs about 262,000 workers and specialists , according to a study by the Employment Agency. This is nearly 9.3% of the currently employed. Compared to the results in 2023, there is a..

published on 10/24/24 11:42 AM

Bulgaria will apply method used in France and Spain to combat hail

There will be pilot testing of ground-based silver iodide generators for hail protection in two zones where the use of rockets is not allowed, the Deputy Minister of Agriculture Ivan Kapitanov said.  At a meeting with Claude Berthet,..

published on 10/24/24 11:21 AM

Political instability is a major challenge for German investors in Bulgaria

The German economy has been shrinking and the government expects a decline of 0.2% of GDP. Some of the main reasons for this include unresolved structural problems related to lack of energy security, excessive bureaucracy and shortage..

published on 10/24/24 9:15 AM