Bulgaria, the European Union's poorest member state, aimed to join the euro zone from next year as it seeks more investment and credit security, but it has struggled with political crises and is set for its fifth election in two years in April.
Bulgaria, the European Union's poorest member state, aimed to join the euro zone from next year as it seeks more investment and credit security.Velkova told reporters today that the country was not meeting criteria on inflation nor had it adopted some necessary legal changes.
"We have not delivered on pledges we made when we joined the ERM-2 and we do not meet the inflation criteria," Velkova said. She said that not having clarity on a euro entry target in the next half year could have a negative impact on the country's credit ratings. She added, though, the country could strive to still complete euro adoption from mid-2024 if it met criteria for that.
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