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Bulgaria keeps the rate between the lev and the euro

Submitted on Saturday, 11 July 2009No Comment
Bulgaria keeps the rate between the lev and the euro

Bulgaria will apply to join the currency mechanism of the European Union that precedes the membership in the eurozone – ERM II (Exchange Rate Mechanism) – in November.

The rate of the national currency with the euro will remain the same until Bulgaria’s admission, stated Simeon Dyankov – economist from the World bank.

He added that the devaluation of the lev in comparison with the euro as a result of the global economic crisis is not possible.

“The next government of Bulgaria will apply new measures to counter the recession and keep the fiscal stability,” assured he.

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