Milen Dobrev: Bulgaria’s accession to the eurozone is beneficial for business

Euronews Romania

Summary

Bulgaria’s potential accession to the Eurozone is viewed as beneficial for business and create more favorable conditions for the economy, according to Milen Dobrev, President of the Ruse Chamber of Commerce and Industry. He emphasizes that joining the Eurozone will guarantee the security of investments and their progressive growth, making Bulgaria significantly more attractive to international investors and eventually leading to incomes rising faster than costs.

However, Romanian economists see this development as a risk for Romania’s economy. Adrian Codârlașu warns that Bulgaria’s combination of low, stable taxes and Eurozone membership will create a competitive advantage, potentially drawing Romanian companies to relocate. Christian Năsulea adds that accepting commercial documents in English would make Bulgaria “significantly more attractive” overall.

While the move is expected to stimulate the economy and strengthen ties with the West, the report notes that Bulgaria currently still lags behind Romania in terms of prosperity, with a lower GDP per capita (66% of the European average vs. Romania’s 77%) and the lowest average salary in the EU (€15,400 per year, compared to Romania’s €21,100). Despite hopes for eventual income increases, the population is currently facing fears, and inflation over 5% is eroding earnings.

Intro

On 30 December 2025, a team from Euronews Romania visited the Bulgarian city of Ruse to document the situation ahead of Bulgaria’s accession to the Eurozone. The following text is a transcript of a report which summarises the views of Romanian economists and Milen Dobrev, President of the Ruse Chamber of Commerce and Industry, on the economic significance of this step. Mr Dobrev emphasises that the common currency will have a positive impact on the investment climate in Bulgaria. However, Romanian economists warn that Bulgaria could become a much more attractive destination for foreign investment, including Romanian capital.

Video of the analytical material

Transcription of the analytical material

Producer:

Beyond the fears of the population, Bulgaria’s transition to the euro will benefit the economy, according to representatives of the business community in the neighboring country. The country will become much more attractive to investors once it joins the select club of the eurozone. There is even a risk that Romania will lag behind in this regard, Romanian analysts warn.

Announcer:

The adoption of the euro is expected to stimulate the economy of the poorest country in the European Union and strengthen its ties with the West. The business community’s perspective is clear: the country will benefit from joining the eurozone.

Milen Dobrev:

The eurozone is a guarantee for the security of investments, as well as for their progressive growth and development. Therefore, this accession will bring numerous benefits to our economy. We hope that this step will make Bulgaria much more attractive to investors.

Announcer:

In the Romanian capital, the advantages that Bulgaria will enjoy in the new context are seen more as risks for our own economy.

Adrian Codârlașu:

When we compare the Romanian and Bulgarian economies, we see that Bulgaria — which has low taxes that have remained unchanged for a very long time — will gain a competitive advantage by joining the eurozone. Unfortunately, there will even be Romanian companies that will choose to move to Bulgaria.

Christian Năsulea:

All that would be needed is for our Bulgarian neighbors to accept documents written in English in all commercial relations between companies; at that point, Bulgaria will become, overall, significantly more attractive than it has been in the past.

Announcer::

However, for Bulgarian citizens to feel the beneficial effects of accession, the country will have to catch up with the rest of the member states in terms of development. At present, Bulgaria still lags behind Romania in terms of prosperity.

Claudiu Cazacu:

I think the main issue concerns the parameters that directly affect citizens, namely the standard of living. If we analyze Bulgaria’s situation, we see that we are still far from the European average GDP per capita. Bulgaria stands at around 66%, while Romania has reached 77%. Ultimately, this is the indicator that citizens feel.

Announcer:

However, there is hope for an increase in income. This phenomenon has occurred in all countries that have adopted the single currency, although not immediately. Until then, however, inflation of over 5% is eroding Bulgarians’ earnings.

Milen Dobrev:

The idea is that by joining the eurozone and attracting international business, the trend will be for incomes to rise at a much higher rate than costs.

Announcer:

Bulgaria currently has the lowest average salary in the European Union, at €15,400 per year, compared to €21,100 per year in Romania, according to Eurostat data.

The other materials by Euronews Romania from Ruse on Bulgaria’s eurozone accession

The final days before Bulgaria joins the eurozone

What do Bulgarians think about joining the eurozone?

Photo: (source: Euronews Romania, YouTube)

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