Nikolay Vassilev, former Minister of Economy of Bulgaria, stated on Monday, April 6, that joining the euro zone did not lead to a doubling of prices, arguing that inflation remains low and fears of sudden increases are exaggerated.
He stated that the idea of a general doubling of prices related to joining the eurozone is false, writes Novinite.
He pointed out the recent monthly inflation figures: 0.6% in January, 0.4% in February, and 0.7% in March, which he described as very low in a historical context.
Nikolay Vassilev argues that the current inflation is among the lowest in recent decades, far below past levels, and that, although energy prices have risen, they remain below historical peaks.
He also believes that compensatory measures are not currently necessary and should only be applied in extreme situations.
He argued that, compared to the last 35 years of Bulgaria’s transition, these winter months represent some of the lowest levels of inflation recorded. He also recalled the financial crisis of 1996, when inflation rose dramatically, in contrast to the current situation.
Nikolay Vassilev asserts that, although energy prices have risen, they remain below historical levels, and compensatory measures are not currently necessary. At the same time, he criticizes the 20 euro aid scheme, considering it inefficient and bureaucratic.
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