Kristalina Georgieva: Bulgaria could enter eurozone in 2025
Bulgaria could still join the Eurozone in 2025, Kristalina Georgieva, the Managing Director of the International Monetary Fund, told BNT and BNR last night.
"Bulgaria is doing very well in meeting the requirements for joining the Eurozone, with the exception of one - inflation. We are also seeing positive results there, but inflation is still not where it needs to be. At the IMF, we believe that Bulgaria's chance to join the Eurozone in 2025 remains," said Georgieva, as quoted by BNR.
Bulgaria initially expressed its desire to adopt the euro in 2018, planning to do so by 2020. Yet this June the European Commission announced that Bulgaria was still not yet ready to do so.
IT specialist helped philharmonic director in Razgrad to embezzle 1 million levs
The Plovdiv District Court has granted a request from the Plovdiv District Prosecutor's Office to impose a detention measure on 40-year-old computer specialist Petko Piskov from Pazardzhik.
Piskov is accused of assisting Levon Manukyan, director of Razgrad's philharmonic, to embezzle 937,889 levs, property of the state Philharmonic. The court's decision is subject to appeal within three days. The prosecution is also investigating a possible link to the Ministry of Culture concerning the siphoning of funds from theaters.
Velocity sells its Bulgarian gold projects to Türkerler for 59 million dollars
Canadian company Velocity Minerals has signed a binding agreement with Turkish firm Türkerler İnşaat Turizm Madencilik Enerji Üretim Ticaret ve Sanayi for the sale of its gold exploration projects in Bulgaria. The Turkish company will acquire 100% of the Rozino project and associated rights, as well as Velocity's stake in other assets, for a total of 59 million dollars, payable in cash, according to the Canadian seller.
Under the agreement, Türkerler will purchase all shares of certain Bulgarian subsidiaries of Velocity. The deal will be paid in two installments. The first 15 million, which is non-refundable, is due upon the completion of the deal, expected by the end of January 2025. The remaining 44 million is to be paid within 18 months. If Türkerler pays the amount within 12 months, the price will be reduced to 42.5 million (a 1.5 million discount).
Kristalina Georgieva: Bulgaria could enter eurozone in 2025
Bulgaria could still join the Eurozone in 2025, Kristalina Georgieva, the Managing Director of the International Monetary Fund, told BNT and BNR last night.