SOFIA – Bulgaria’s Prime Minister Boyko Borissov highlighted on Thursday that his country could very soon be entering the eurozone as economic data had been very favorable.
As the capital Sofia geared up for the inaugural event in which Bulgaria is to take over the rotating six-month presidency of the European Union, Borissov insisted that the country’s economic situation supported its accession to the euro.
He said he was in direct contact with the president of the European Central Bank, Mario Draghi, and that they were very optimistic about Bulgaria’s chances of belonging to the common currency currently used by 19 EU member states.
According to the PM, Bulgaria’s GDP grew by 3.9 percent between November 2016-2017 and its budget deficit was 0 percent, while EU average was 1.1 percent.
Inflation is stable at 1.3 percent, against the EU average of 1.7 percent, and monthly salaries had grown by 17 percent in the last year on average.
Borissov highlighted rapid growth in sectors like software, information technology and communications.
In the last four years, some 35,000 Bulgarians living abroad have returned to the country and net emigration has fallen to around 4,000 people per year, according to official data.