Bulgarian National Bank, commercial banks work to make Bulgaria ready for the euro

published on 12/6/23 9:25 AM

Dimitar Radev, governor of the Bulgarian National Bank

Photo: BTA

On Banker's Day, December 6, the governor of the Bulgarian National Bank (BNB), Dimitar Radev, congratulated all those working in the banks in the country.

"The banking sector continues to be in a very strong condition and is a major factor in the implementation of the most important priorities for the country, including joining the Eurozone," Radev told BGNES.

For the governor of the BNB, the capital adequacy, liquidity and profitability of the banks in Bulgaria is above the average level in the EU.

In an interview with 24 Chasa daily, the chief banker stated that if he had not been sure of the country's real chances of entering the Eurozone, he would not have accepted a second term as the head of the BNB. "The stability of the Bulgarian leva is a function of the stability of our reserve currency (the euro). What will happen is that our reserve currency, the euro, will become the national currency," emphasizes Radev. For him, "inflation remains a problem" because of "not a good synchronization between the fiscal and monetary policies".

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Bulgarian National Bank, commercial banks work to make Bulgaria ready for the euro

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