Bulgaria’s entry into the eurozone will create conditions for stronger growth :: Investor
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Bulgaria’s accession to the euro area is expected to unlock a complex of rapid effects and create conditions in the medium and long term for a higher gross domestic product (GDP). This is considered in the analysis of the Economic and Economic Council (ESC) on the topic “The impact of Bulgaria’s social accession to the euro area on economic development, inflation and income in the country.”
The analysis was developed at the suggestion of the National Assembly, according to the ESC press center.
The report states that joining our country to the single currency will create conditions for high productivity and potential for accelerated development and convergence to the average levels of productivity and income in the more destined Eastern European countries.
The expert analysis also, the accession to the euro area will contribute to the improvement of the investment environment, to the increase of the export orientation and to the unlocking of statistically significant direct and indirect effects on the export-oriented sectors and on the net amount of goods and services. According to ESC, this has the potential to affect the overall dynamics of GDP, productivity, value and income.
At the same time, the experts of the Council join, by joining our country to the bloc hides some risks. Among these are short-term, limited in price growth, unfair and speculative trade practices – the main area of service and low level of awareness.
The Economic and Social Council assumes that there may be gaps or insufficient time to implement the necessary additional actions and technical measures, the adoption of significant in volume and significant according to the content of changes in law and regulations.