site.btaBNB Deputy Governor Chobanov: Crises Demand Structural Solutions and Reforms

Crises demand a series of structural solutions and reforms, which is why we must all work together to identify these reforms, helping them come to fruition so we can structurally move forward, Deputy Governor of the Bulgarian National Bank (BNB) Petar Chobanov said here on Monday.

He was speaking at the opening of the Euro Week initiative and the Tenth Annual Monetary and Economic Scientific Conference at the University of National and World Economy.

The forum is supported by several institutions, among which BNB, the Ministry of Finance, the Association of Banks in Bulgaria, among others.

Regarding the nominal criteria for joining the eurozone, only the inflation level still needs to be met. "We see the clear intention of the Ministry of Finance to maintain the budget deficit for the coming year," he said, adding that these efforts alone would not be sufficient.

"This is where our role becomes essential, both as an academic community and as a society, as a network of people who truly care about the country, to ensure its ongoing progress," he said.

"This conference has many aspects, as it always has and will continue to have. The topics will positively contribute to the public discourse we are involved in and must keep participating in," Chobanov added.

Chobanov announced that a memorandum between BNB and the University of National and World Economy will be signed later this week.