Bulgaria is on its Way to the Eurozone
”Bulgaria is on its way to the eurozone”, Valdis Dombrovskis, EC Vice-President and European Commissioner for the Euro and Social Dialogue, said at the presentation of recommendations to Bulgaria in the framework of European Semester 2017. He pointed at significant imbalances in the economy since 2015, including the high corporate debt. On the other hand, Bulgarian authorities have taken measures in response to recommendations on the pension sector in 2016. There is a high level of outstanding debt. The measures, necessary in the banking sector, should be taken more quickly. Regarding debt collection, things there will also be improved, according to Dombrovskis. With regard to the eurozone, Dombrovskis said there are nominal exchange criteria. “We have discussed this issue. Some aspects look pretty well. You are walking towards the eurozone. You need to join the exchange rate mechanism”, he added.