11.06.2020
Prime Minister Boyko Borissov had a telephone conversation with the Executive Vice President of the European Commission Margrethe Vestager. The two discussed Bulgaria's progress in joining the eurozone's waiting room (ERM II).
Prime Minister Borissov pointed out the consistent actions that the Bulgarian government, the banking sector, and the supervision in our country have implemented over the past two years, since in August 2018 the Council of Ministers approved an action plan with specific measures to prepare our country to join the Exchange Rate Mechanism II and The Banking Union. Borissov expressed confidence that the admission of our country to the waiting room of the eurozone will have a positive impact on the economic environment in Bulgaria, and general banking control will be an additional guarantee for the transparency of the work of Bulgarian banks.
Prime Minister Boyko Borissov emphasized that the prudent fiscal policy of the government is among the achievements that our country can be proud of and can serve as an example. According to him, financial stability and discipline are among the main reasons for Bulgaria to be able to meet the current crisis caused by COVID-19 in a good condition and to respond quickly with targeted health and socio-economic measures to support both citizens and businesses. Borissov also pointed out that Bulgaria is among the EU countries with the lowest debt in ratio to GDP.
During the conversation, Prime Minister Borissov underlined the need for accelerated recovery of the EU economies after the pandemic. The Prime Minister welcomed the European Commission's activity in the fight against the new virus and added that unity was a key prerequisite for the EU's overall response to the negative effects of the pandemic.
