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Coalition Partners Meet to Discuss Anti-Crisis Measures, Euro Adoption

The partners in the ruling coalition held a second meeting at the Finance Ministry on Friday evening to discuss the national plan for the adoption of the euro by Bulgaria and a package of anti-inflation measures which is expected to be unveiled next week. The package is expected to disburse between 1.5 and 2 billion leva.
Among the proposals are reduction of the VAT rate on staple foods, direct support for households, a ceiling on goods and raw materials. A scheme for discount on fuel for individuals is under preparation.
A consensus had been reached on a large part of the anti-crisis and anti-inflation measures, it emerged from statements of participants in the council and the last details are being finalized.
Emerging from the meeting, Democratic Bulgaria MP Georgi Ganev, told the press that the meeting centred on the procedures for the euro adoption. The Finance Ministry and the Bulgarian National Bank will prepare a joint report assessing the effects of the adoption of the euro by Bulgaria.
Bulgarian National Bank Deputy Governor Kalin Hristov showed the structure of the report, which is expected to be ready within a month or two, said Ganev, but voiced doubt that it will be completed earlier than the autumn. 
The report will define the optimal time for the adoption of the euro from the point of view of the Bulgarian economy. The incumbent will insist that the euro is adopted at the beginning of 2024. The big question is whether after one year Bulgaria will still meet the criteria for the adoption of the common European currency. “After one year we’ll file an application for assessment of Bulgaria,” said Ganev. It will become clear in June 2023 after a decision of the European Council whether Bulgaria will adopt the euro in early 2024.
The discussion on anti-inflation measures was short and it took several minutes at the end of the meeting, said Ganev.
There is a consensus that there will be aid for families with children and for pensioners, said Ganev of anti-inflation measures. A differentiated VAT rate and a discount of 0.25 leva on fuels for individuals, a ceiling on the prices of staple goods were not discussed, added Ganev.