Bulgaria Should Step Up Reforms Regarding ERM II, Banking Union Accession, CVM - EBRD
Bulgaria's government should focus next year on further reforms aiming to prepare the country for joining ERM II and the Banking Union, as well as addressing issues raised by the EU’s Cooperation and Verification Mechanism, the European Bank for Reconstruction and Development said on Tuesday. "In particular, the government needs to implement the new anti-corruption law, further improve the independence and efficiency of the judiciary, and step up the fight against organised crime by improving the legislative framework and increasing transparency," the EBRD said in its 2018-2019 Transition Report. The Bulgarian authorities must also introduce a number of reforms as part of the country's bid to become a Eurozone member, including new macro-prudential instruments and amendments to the existing insolvency and anti-money laundering frameworks. Bulgaria's government should also set its eyes on improving business environment through cutting back red tape, retaining qualified workers and improving the skills of the existing labour force.