Bulgaria is expected to increase credit and investment.
Atanas Kolev, Chief Advisor of the General Department of Economic Bank of Europe, said in a statement with the Bulgaria National Radio, that the conversion of Bulgaria to Euro is expected to affect the credit rating of the country positively. He said that disciplined financial policy will accelerate level improvements, which will reduce debt payment costs and indirectly increase loans from cities borrowing from the international market. It will be convenient for Bulgaria Kollev emphasized that the euro will enhance Bulgaria's investment environment. By eliminating costs in exchange rates and reducing exchange rate risks with 20 Euro Main Trade Trading partners, Bulgaria will be more transparent in price and facilitate comparison with other Euro countries. The concern of inflation is unworthy Referring to concerns about potential price increase, Kolev said that similar reactions were observed in other countries applying the euro. Manufacturers and traders in Bulgaria initially may set the price when the price changes. However, historical experiences show that the small price increase in the first months of the first months of rounding is temporary and common inflation tends to be stable and even decreases in a year. The industries and financial industries are expected to benefit right from the application of the euro, including lower loan costs, as well as adjusting interest rates. Kolev also stated that there was a smooth recovery from energy shock 2022-2023 and evaluating the overall economic situation of Europe. The level of employment is high, increasing revenue and credit conditions for the private sector, along with the gradual increase in the expected investments will increase, he said. Recognizing that budget restrictions in some EU member states can slow this process, Kolev has attracted attention to strong investment activities and solid investment in both private and public consumption by assessing Bulgaria's internal state. Kolev said that reducing political uncertainty in Bulgaria next year will support more economic development and help it will help completely benefit from the benefits of the application of the euro.
