Sofia, May 9 (BTA/GNA) – Representatives of trade unions, employers and civic organisations Tuesday expressed support for Bulgaria’s accession to the euro area and noted the need for an information campaign to explain to the people in an accessible and understandable way the benefits and challenges of the single currency’s introduction. The representatives took part in a discussion on the role of organised civil society in the process of Bulgaria’s accession to the euro area, organized by the Economic and Social Council (ESC).
Bulgarian Industrial Association Vice President Stanislav Popdonchev pointed out that Bulgaria’s membership in the euro area, Schengen and the Organisation for Economic Co-operation and Development are a cause and key priorities for Bulgarian business.
Popdonchev noted the benefits for Bulgarian business from the introduction of the euro – lower transaction costs, eased conditions for export-oriented industries, lower interest costs, better access to funding, a stimulating effect on investment activity. He added that Bulgarian entrepreneurs also face a number of issues and challenges, most of which are of a regulatory and technical nature, such as the need for changes in the organization of work, the currency conversion of cash and assets, equity and securities, adaptation of information systems and business software to work with the euro, declaring and reporting to the revenue administration, national statistics, and the Financial Supervision Commission.
Active Consumers Association Executive Director Bogomil Nikolov noted that the ESC with its activities in recent years has shown an active attitude towards the national cause of introducing the euro in Bulgaria. “We need to fight the fears of a large part of Bulgarian citizens in a frank, pragmatic, human conversation. This will be done by discussing the challenges, not by looking at the past,” he said. Bulgarians as a state and a nation have long embraced the euro, he noted.
BTA/GNA