Even at the height of the Covid-19 pandemic there was some good news for Bulgaria, as it continued on its path towards joining the eurozone, with its inclusion in the Exchange Rate Mechanism (ERM II) — a major step in the process of adopting the euro currency.
At the same time, measures taken by the authorities and the banks themselves have helped to limit the economic impact of the coronavirus, even as healthcare issues continue to weigh heavily. In the face of the global pandemic, the Bulgarian National Bank rolled out a package of measures worth more than 8% of the country’s gross domestic product (GDP). A moratorium on loan repayments was also put in place.
