Bulgaria Wants to Join Euro Zone But Opposed to Single Tax Policy

Bulgaria Wants to Join Euro Zone But Opposed to Single Tax Policy

Bulgaria still wants to join the euro zone, despite the serious challenges to the single currency, but is opposed to the introduction of a single tax policy, economy minister Traycho Traykov said in an interview with CNBC.

"I know that it is now fashionable to predict the end of the monetary union, but I think common sense will dominate and it will survive. Of course, we still want to be part of it," Traikov told CNBC.

He added that if Bulgaria joins the euro zone local businesses will benefit from lower interest rates.

"We have one of the lowest government debts in the EU and one of the lowest budget deficits for this year and for next year, so the question for us is how to translate this into higher growth, and the answer is encourage investment in higher value-added sectors of the industry," he added.

 

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