Bulgaria's high inflation rate (5.1%) prevents it from joining the eurozone, as per the ECB.
The European Central Bank (ECB) has announced that Bulgaria cannot join the eurozone due to its high inflation rate, currently at 5.1%. This is disappointing for the Bulgarian government, which aims to become the 21st member of the currency union. The ECB believes that inflation will likely decrease gradually over the coming months as supply bottlenecks ease, but Bulgaria must meet all euro criteria before requesting further assessment.
June 26, 2024
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