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Bulgarian PM hints country may miss eurozone entry date

by editor

Bulgarian Prime Minister Nikolay Denkov on Saturday said his country may fumble the January 1, 2025, target date to join the EU’s currency zone.

The country’s target date to adopt the euro was “not sacred,” Denkov said during an appearance on the Bulgarian radio station Darik Radio.

“What is sacred is not the date but having a clear direction and working on it. This is good for business, good for citizens, good for welfare, and good for the control of financial institutions,” Denkov said.

Denkov also underlined that the ruling government coalition is doing everything it can to get the euro accession process up to speed.

Last year, Bulgaria scrapped its target date to adopt the euro of January 2024 as its inflation rate failed to meet the standard and it had yet to implement certain legal changes.

“The date is when all the Maastricht criteria are met. Maybe January 1, 2025, would be one possible date,” Commission Vice-President Valdis Dombrovskis said last February on the matter.

In December, EU member states reached an agreement on removing air and maritime border controls with Bulgaria and Romania. Discussions on a full entry to the passport-free Schengen zone are ongoing.

Talks on removing land border checks will continue this year, said the European Commission. “A decision by the Council on this matter is expected to be taken within a reasonable time frame.”

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