Balgarianovinite.com A conference segment of The World Ahead 2026 Sofia Gala Dinner, organized by The Economist, focused on the economic impacts of Bulgaria’s euro area accession. At the Grand Hotel Millennium Sofia on Thursday, the topic was discussed by Bulgarian President Iliana Iotova, Bulgarian National Bank (BNB) Governor Dimitar Radev, Bank of Greece Governor Yannis Stournaras, European Central Bank (ECB) Chief Economist Philip Lane, International Monetary Fund (IMF) Regional Representative for Central, Eastern and Southeastern Europe Carlos Mulas Granados, and leading business figures.
Opening the event, President Iliana Iotova said that it is crucial to strengthen trust in the euro and prevent factors that could erode it. She added that citizens should be guided as smoothly as possible through the transition. The head of State said the 2025 Convergence Report contains recommendations that remain unfulfilled, while the report on the Bulgarian National Bank was more positive. She also said that BNB Deputy Governor Andrey Gurov has been tasked with proposing a caretaker government and that she will push for the monitoring of prices of essential goods, fuel, energy, services, and medicines to prevent speculation.
Central Bank Governor Dimitar Radev said that the process of adopting the euro in Bulgaria is proceeding in line with preliminary expectations, both in terms of the technical transition and price dynamics in the country. According to Radev, nearly 85% of lev banknotes and coins have already been withdrawn from circulation, while more than EUR 7 billion have been put into circulation in the country. Radev stressed that price stability remains a key component of public trust. For that reason, assessments of inflationary trends must be based on comprehensive data and rigorous analysis, rather than isolated observations or short-term perceptions.
IMF Regional Representative for Central, Eastern and Southeastern Europe Carlos Mulas Granados stressed that Bulgaria’s accession to the euro area is a historic moment, but it does not in itself guarantee a higher standard of living. He stressed that although this represents important progress that has changed people’s lives, it is not sufficient, and adopting the euro must be accompanied by “good policies” in order to take convergence to the next level. In the short term, the IMF recommends tightening fiscal policy to prevent potential overheating of the economy, as well as enhanced monitoring of credit and financial risks.
Bank of Greece Governor Yannis Stournaras said that Bulgaria will benefit from the advantages of its membership in the euro area, but key conditions for success are adherence to prudent fiscal policy and strict banking supervision. According to him, the introduction of the euro in Greece in 2001 brought significant benefits to the country – it eliminated currency risk, reduced transaction costs and facilitated trade, tourism and investment. Membership increased confidence and helped improve inflation expectations, he added. Stournaras predicted that Bulgaria would experience the same positive effects. He also pointed out that Greece’s membership in the euro area was associated with many policy mistakes and weaknesses.
Joan Hoey, editor of the annual Democracy Index and head of the Europe analysis team at The Economist Intelligence Unit, said that Bulgaria is one of the fastest-growing economies in the EU, it grew by 3% in 2025 and is expected to continue growing in 2026. The Economist’s analytical unit identified private consumption as the main driver of growth in Bulgaria, combined with external demand and a forecast of substantial interest from foreign investors in Bulgaria and Southeast Europe, linked to the ongoing nearshoring process of shortening supply chains. She pointed out that a new growth model is needed for the country and the region as a whole. Hoey believes that an end to the war in Ukraine could have a strong positive effect on the region, particularly Bulgaria, as it would lead to investment in Ukraine’s recovery and stimulate the economies of neighbouring countries. Conference in Sofia Focuses on Economic Impact of Bulgaria’s Euro Area Accession 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-02-12 21:28:38 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law