21.06.2023

“The active part of the society wants Bulgaria to join the euro area, the businesses want it, too. We have been pegged to the euro, and to the German mark before that, through the Currency Board Arrangement for decades”, the Finance Minister Assen Vassilev said at the seventh edition of the annual meeting of the Bulgarian Business Leaders Forum (BBLF) with foreign ambassadors. Minister Vassilev was adamant that there was a strong political will in Bulgaria to join the euro area.

With this meeting the Forum aims to provide a broad platform for dialogue between different sectors on topical issues for the country's development. A diplomatic partner this year was H.E. Mr. Alejandro Polanco, Ambassador of the Kingdom of Spain, the country that will take over the Presidency of the Council of the EU from 1 July 2023. The main highlights of the event were Bulgaria’s forthcoming membership in the euro area and in Schengen, as well as the priorities of the Spanish Presidency and attracting investment in Bulgaria.

During his speech, the Minister of Finance Assen Vassilev made a comprehensive analysis of the state of the European economy, outlining the main challenges facing Europe, i.e. balancing energy prices and the green transition, opening up to new, more efficient business models and an immigration policy based on attracting talent. In this context, the Finance Minister said the Government had to work hard to ensure a competitive energy price to give our economy a competitive edge.  It should work to change the Bulgarian migration pattern, namely to try to attract young people, especially in the field of information technology. Bulgaria should rely on a change in its education system to ensure the development of children’s skills, as well as work to create and attract innovation and high added value businesses.