Romania may join the Euro zone in 2013 while Bulgaria may see it happen in 2012, according to 30 analysts from emerging markets quoted in a Reuters poll. The main cause quoted in favoring Bulgaria’s chances was the more stable currency rate of the Bulgarian leva against the single currency.
Still, both countries face a current account deficit problem which may be further fueled by future spending plans for the infrastructure.
The poll shows the two countries, due to join the European Union in January 1, 2007, are reluctant to implement head-on reforms to reduce budget deficits which may further postpone their accession to the single currency.
HotNews.ro, Nov 27, 2006
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