Fibank "Bulgaria's accession to the eurozone and the introduction of the euro in Bulgaria will significantly increase the confidence in the country", said Jivko Todorov, Chief Financial Officer and member of the Management Board of First Investment Bank (Fibank).
According to Mr. Todorov, the entry of Bulgaria into the euro area will bring enormous benefits to its economy.
"The euro will raise the confidence in the country. There will also be a lot of foreign investment, which will contribute to the creation of new jobs and an overall boost in the economy", the banker said.
According to him, the entry of Bulgaria in the euro area and the adoption of the single currency in the country will not lead to an increase in the prices of goods and services.
"Analysis shows that the fears of inflation following the adoption of the euro, although widespread, are unjustified. Different studies by the ECB and the European Commission indicate that in some of the acceding countries no increase in inflation was reported at all after the adoption of the single currency. In other countries, a minimum inflationary effect not exceeding 0.3 percentage points was observed", Todorov added.
Meanwhile, this week it became clear that the Bulgarian government will be looking for an opportunity to join the eurozone and the banking union at the same time. According to the Minister of Finance Vladislav Goranov, this could happen within a year.