Reply to thread

Message: [QUOTE="Munyaradzi Mafaro, post: 47630, member: 636"] Lyubomir Karimanski serves on the Bulgarian National Bank's Governing Council. He told NOVA NEWS that Bulgaria's fixed exchange rate will stay unchanged when adopting the euro. Karimanski considers this matter settled among citizens. He focuses more on whether Bulgaria's economy can compete during upcoming years. Economic competitiveness matters more than currency concerns. Karimanski worried about missing fiscal data from the Ministry of Finance. The ministry failed to release May's preliminary information about fiscal program implementation. Government agencies usually publish these monthly reports on schedule. When officials skip publications, spending problems likely exist within the fiscal system. Missing reports signal that expenditures exceed planned amounts. Bulgaria promised to follow spending limits during the next four years. Karimanski fears political decisions might raise spending ceilings and damage financial discipline. Government officials have not explained their revenue and spending policies clearly. The lack of specific measures creates doubts about meeting financial goals. European reports show spending growth exceeds government projections. Officials planned for 6.2 percent growth during 2025. Current increases reach 8.2 percent above expectations. The European Commission predicts growth will hit 9.2 percent before year end. Higher spending will create larger deficits than planned. These numbers show poor fiscal control. Karimanski warns that euro adoption may hurt incomes without economic reforms. Citizens could face hardships if officials fail to restructure the economy. Officials must act before currency transition to protect people from shocks. These adjustments will determine whether euro adoption helps Bulgarian families. Proper preparation requires changes to how Bulgaria creates wealth. [/QUOTE]

Name