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The Bulgarian Lev In Ermii. Is It Possible To Meet The Euro Area Entry Criteria Within A Minimum Of Two Years

Author

Listed:
  • Mariella Nenova-Amar

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

The entry of the Bulgarian lev in the Exchange Rate Mechanism II (ERM II) in July 2020 opens the door to entry in the euro area. The article assesses the feasibility of fulfilling the Maastricht quantitative economic criteria, with a focus on the criteria for price stability and sound public finances which are found to have been the most problematic for the Baltic countries in their accession to the euro area. A controversial relationship between the business cycle and the achievement of those criteria has been identified. Based on the analysis, an assessment is made, namely that it will be probable for the Bulgarian economy to meet the quantitative economic criteria for euro area entry in the shortest possible period.

Suggested Citation

  • Mariella Nenova-Amar, 2022. "The Bulgarian Lev In Ermii. Is It Possible To Meet The Euro Area Entry Criteria Within A Minimum Of Two Years," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 21(1), pages 131-152, April.
    • Handle: RePEc:sko:yrbook:v:21:y:2022:i:1:p:131-152
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    File URL: http://www.feba.uni-sofia.bg/sko/yrbook/Yearbook21-06.pdf
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    More about this item

    Keywords

    inflation; price stability; business cycle; budget deficit; fiscal policy; ERMII; Maastricht criteria.;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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