site.btaUPDATED EC: Bulgaria's Goal of Joining the Eurozone in 2024 Is Achievable

Bulgaria is aiming to join the eurozone in 2024 and the European Commission will continue to work to support these efforts, European Commissioner for Economic Affairs Paolo Gentiloni told a news conference on Wednesday. That goal is achievable if all requirements are met, he added.

Earlier on Wednesday, the European Commission reported that Bulgaria still does not meet two of the requirements for joining the eurozone. This country does not meet the indicators of price stability and legislation fully compliant with EU rules.

The Commission clarifies that consumer price inflation in Bulgaria is uneven. It is reported that the latest data for the country show high inflation caused by rising energy prices. The next report is expected to show a positive change next year, because inflationary pressures are considered temporary and are expected to go down significantly. For this reason, there are no expectations for a further delay for Bulgaria on the road to adopting  the euro.

The EC notes that joining the eurozone is part of the commitments made by EU countries to join the community (excluding Denmark).

The report states that Sweden, Romania, Poland, Hungary and Czechia also do not yet meet the requirements for admission to the eurozone.