PM Denkov: Bulgaria’s Eurozone entry date not sacral

January 1, 2025, which is the date for Bulgaria's entry into the euro area, is not "sacral", Prime Minister Nikolay Denkov told Darik Radio's talk show, in which Deputy Prime Minister Maria Gabriel also participated. 

"There is nothing fatal if it happens not on January 1, but on July 1, and this is possible. What is sacral 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," the Prime Minister said. 

Denkov stressed that the Government is working to make the accession happen as soon as possible. 

The Prime Minister explained that during his talks in Davos it had become clear that the only problem facing Bulgaria's entry into the eurozone was inflation, which was linked to external factors such as fuel and food prices. Inflation continues decreasing but, unfortunately, in the euro area it is generally lower and that is why it is more difficult to fit into the requirements, Nikolay Denkov explained. 

That is why Bulgaria is negotiating the inflation indicator to be assessed later in the year, Denkov added. The report itself, which will determine if and when the country will be invited to join the euro area, is expected to be presented in June. 

The analysis of the ministers' work and the review of the governance programme, which is currently being done, will set the first directions of the new government, Deputy Prime Minister and Minister of Foreign Affairs Mariya Gabriel said.

She recalled that the governance programme has a deadline of December 2024.

"This means that in March we should have clarity on what has been implemented on time, what is late, what might be completely at risk of not happening. Then comes the challenge of what needs to be done - I don't start with the presumption that we have to do something because it is part of someone else's idea, on the contrary, I want us to think statesmanlike," Gabriel added.

Gabriel, who is due to replace Nikolay Denkov as prime minister in March, added that no compromise would be made with priorities such as Schengen, the euro area, the Organisation for Economic Cooperation and Development, as well as the fight against corruption and Bulgaria's efforts to be a country where the rule of law, a sense of justice, anti-corruption measures are a priority and unite people.