site.btaEuro Will Bring Bulgaria More Prosperity, Says Education and Science Minister

All other things being equal, the euro will be that positive factor that will contribute to Bulgaria being more integrated, its economy growing a little more, to having a little more investors and young people, and to having more prosperity, Education and Science Minister Krasimir Valchev said during an information meeting on Wednesday in Ruse. The event was part of the National Information Campaign for the introduction of the euro in Bulgaria and was held jointly with Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadjov.

"We started at 28% of the average European income in 2000. Now we are at 66%. This is the so-called convergence. In order for it to continue, we need to do many more things", Valchev stressed, adding that this increase is uneven by region and still insufficient, but it is still a fact. "To a very large extent, this is also due to our European integration, as we are part of a large community and have adopted institutional rules to which we abide, and we are much more connected economically," the minster pointed out.

He noted that the most important factor in retaining more young people in the regions is related to high-income jobs. "In order to have high-income jobs, there must be industries, the economy must prosper. The euro will not solve all our problems, but other things being equal, it will contribute to more prosperity in Bulgaria. Everything else depends on our work," Valchev stated. He noted that the benefits of introducing the euro far outweigh the negatives, adding that the negatives are mostly related to limiting the country's independent monetary policy, which has not been independent since 1997, when Bulgaria decided to adopt the currency board system, Valchev recalled.

The challenges facing education related to adopting the euro are much smaller compared to those facing business, the minister said. "Students will start solving problems not in leva, but in euro. We will replace the textbooks that contain problems in leva next school year. There are also information boards in schools related to euro banknotes and coins", he noted. At the consumer level, Valchev pointed out that people will see that they have no problems switching to the euro just by looking at their children, who will switch very quickly. "The greater difficulties will be faced by businesses, but the majority of businesses accept that these efforts are worth it and will lead to benefits for Bulgarian business," he commented.