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Plamen Danailov: It is not the deputies who are delaying, but the Council of Ministers is not yet ready with the budget

Most likely there is a political decision for Bulgaria to be accepted into the eurozone, comments the capital's municipal councilor from the ITN

Feb 18, 2025 09:35 92

Plamen Danailov: It is not the deputies who are delaying, but the Council of Ministers is not yet ready with the budget  - 1

Most likely there is a political decision for Bulgaria to be accepted into the eurozone.

This was stated to the Bulgarian National Radio by the financier Plamen Danailov, who is a municipal councilor from the ITN in Sofia, after it became clear yesterday that by the end of February our country will make an official request to the European Commission and the European Central Bank to prepare extraordinary convergence reports.
It is not the deputies who are delaying, but the Council of Ministers is not yet ready with the budget, he emphasized and explained that this is the only law that can be submitted only by the Council of Ministers and that the "fast track" cannot be used.

"This week all parameters of the draft proposal of the three the bill - for the state budget, NHIF and NSSI. I assume that Minister Temenuzhka Petkova has familiarized the European partners with the main parameters and most likely received enough assurances to take this step. The message that she received from the European partners is extremely important here. Most likely, it was positive and that is why such a request will be submitted. It is largely a political decision, not just to meet certain criteria. Bulgaria has difficulty meeting the criteria. Most likely, there is a political decision for Bulgaria to be accepted into the eurozone," explained the financier.

According to him, however, it would be extremely tense for our country to be accepted into the eurozone on January 1, 2026:

"Very serious work is needed by all institutions for this to happen. It is not impossible, but there will be great tension".

The better functioning the institutions of a country are, the richer it is, Danailov emphasized in the program "Predi visi".

He agrees that Bulgaria should enter the eurozone, but in his opinion this should happen when we are ready and have fulfilled the criteria. According to him, the big problem is that to a large extent Bulgaria is moving at two speeds – Sofia and the rest of Bulgaria. There is an unfavorable distribution of income and resources in the country, which makes it difficult to adopt the euro at the moment, the municipal councilor expressed his opinion. However, he did not hide that there are extremely many positive sides to adopting the euro:

"Bulgaria will be perceived as a much better destination for investments, a much safer country for investments. This is further confirmation that there are functioning institutions in Bulgaria".

Plamen Danailov also commented on the boycott of large chains:

"Protests are a legitimate way to express an opinion when they are organized without violence. This protest that took place clearly led to a result, at least in terms of the fact that the institutions were activated – continuing and reminding the institutions that they must act".
He highlighted the regulatory function of the state in the person of the CPC and the CPC. According to him, the state must help the manufacturer get closer to the direct consumer. Increasing competition will certainly help, he is categorical. According to him, the state can also look for other investors, but:

"The state must take care not to impose requirements on small and medium-sized enterprises".