site.btaEx-Finance Ministers Agree on Benefits of Bulgaria's Eurozone Entry 

Former finance ministers concurred about the benefits from Bulgaria's expected entry in the euro zone from 2024, as they spoke at a Sofia conference on the euro changeover Friday.

The conference is organized by Dir.bg, the Confederation of Employers and Industrialists in Bulgaria and the Small and Medium Enterprises Promotion Agency. 

According to Vladislav Goranov, who was finance minister between 2014 and 2020, the advantages of Bulgaria's euro zone admission are indisputable. He hopes that it would unite the Bulgarian society for the accomplishment of a common goal. Moreover, as it moves towards the euro zone, Bulgaria has carried out many reforms that have improved the quality of life.

Nikolay Vassilev, who was deputy prime minister and minister of economy in 2001-2003, was of the opinion that most of the debate in society is focused on inessential issues. In his view, the biggest benefits are those that cannot be measured mathematically. "If Bulgaria wants to be among the most developed countries in Europe, the answer to this question is clear," he said.

Milen Velchev, minister of finance in 2001-2005, added that opponents of the euro drew inspiration from the general scepticism since the early days of the euro. He said that the euro had survived so many storms and cannot fail. He believes that joining ERM II was the real challenge, while joining the euro zone is a formality. Velchev is optimistic about Bulgaria's chances to be admitted to the euro zone.

Plamen Oresharski, prime minister in 2013-2014 and finance minister in 2005-2009, believes that the euro zone is Bulgaria's chance for socio-economic progress. He recalled that the national economy has already experienced the shock of introducing the currency board. The adoption of the euro will not automatically make us richer, but will provide us with the opportunity to become so if we want, he said. He called on the authorities to implement measures and policies to make the national economy competitive.