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EC: Bulgaria still not meeting eurozone criteria

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Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the requirements for adopting the single currency, the assessment said. It is reported that the country has almost fully aligned its legislation with the rules of the eurozone, including in relation to the budget, the exchange rate of the lev and long-term interest rates.

The inflation criterion is also expected to be met by the end of the year. Then Sofia will request an extraordinary report from the European Commission and the European Central Bank on joining the eurozone, the Bulgarian National Bank announced, BGNES reports.

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