ECB's Lagarde Expresses Optimism Over Bulgaria's Convergence Process with Eurozone

In a recent statement, European Central Bank (ECB) President Christine Lagarde expressed her positive outlook regarding Bulgaria's progress toward adopting the euro. During an event in Sofia, Lagarde highlighted that Bulgaria’s convergence process with the Eurozone is “well advanced,” suggesting that the Balkan nation is on track to meet the necessary criteria for euro adoption.

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Bulgaria Holds Back on Euro Adoption Amid Inflation Concerns

In a significant policy shift, Bulgaria has tempered its ambitions to adopt the euro following recent data that revealed its inflation rate exceeded the European Union's criteria. This move comes as the nation strives to stabilize its economy and align better with EU standards, but the current inflation challenges have raised doubts among policymakers and citizens alike.

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