site.btaBulgaria Reports Progress on Eurozone Accession and Is Well-Positioned to Address Risks, Says EBRD President Odile Renaud-Basso

Bulgaria is making good progress toward joining the Eurozone, as inflation is declining toward the threshold set by the criteria, European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso stated in an interview with BTA on Wednesday.

She noted that there is a strong understanding of the need to maintain the budget deficit at a maximum of 3%. The economy, in general, continues to grow at a solid pace compared to the rest of the EU, she added, recalling the EBRD's forecasts for Bulgaria's economic growth rate of 2.4% in 2025 and 2.8% in 2026.

However, Renaud-Basso highlighted vulnerabilities stemming from changes in the global environment, including trade tensions that are likely to have an impact. According to her, developments in the Eurozone, particularly in Germany and Italy, are also crucial for Bulgaria.

Looking ahead, she acknowledged certain risks and emphasized the importance of local buffers to address them. She pointed out that Bulgaria is in a good position due to its low debt levels but stressed the need to maintain competitiveness and invest in the future.

Monitoring competitiveness and investing in infrastructure and other programs are essential elements for sustaining the country’s resilience and growth potential, she added.

During her two-day visit to Bulgaria, Renaud-Basso met with many EBRD clients from both the public and private sectors.

"I am very impressed by the entrepreneurial spirit of many of our clients in various areas of the private sector. There are many projects and a lot of energy, which is very positive for the country's future," she said.

Earlier in the day, Renaud-Basso met with President Rumen Radev to discuss investment opportunities in transport connectivity and the energy sector.