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All Bulgarians are used to the euro and do not need a long period of adaptation. Price speculation is possible now, and after the adoption of the euro, I am skeptical that prices will rise sharply after the adoption of the euro.
This was said in the “Offensive” program on NOVA NEWS by former Finance Minister Milen Velchev. According to him, speculation will not be allowed by the free market, although there will always be unscrupulous traders, but there are also government agencies to monitor.
When it comes to loans, Velchev is convinced that neither borrowers nor banks will suffer after the adoption of the euro. “Joining the eurozone is an objective, but it is not imperative and different governments in the country may have different attitudes about it. Some may decide to delay entry,” said the former finance minister.
According to him, the recovery from the economic crisis due to the pandemic is not developing as fast as expected and this will continue. “When the economy is in decline, the finance minister has no right to constantly say ‘no’. The two Bulgarian finance ministers in recent months can be congratulated on their actions,” Velchev said.
However, he is convinced that the reduction of VAT on certain goods was a mistake, because after the expiration of the term there will be pressure to continue to apply the reduced rate.
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