The country must request a postponement of the Euro and the Eurozone due to high budget deficit and projected inflation. Bulgaria is not ready and it will be necessary to take out unaffordable loans and/or significantly increase taxes. This position is expressed by the deputy chairman of VMRO, Carlos Contrera, in a deliberate letter, which has been addressed and submitted to the Council of Ministers of Bulgaria. The reasons for this are clearly and precisely justified based on expert assessments from the Fiscal Council and official statements from the Governor of the Bulgarian National Bank. The Fiscal Council - as can be seen from the official website of the Fiscal Council - published an opinion on September 19, stating that "we are heading towards a 4-5% deficit in the budget for 2025". The Governor of the Bulgarian National Bank on October 11, 2025. In their official statement, they state: "If expenses are maintained sustainably above 40% of GDP, they will have to be financed either through debt, or through higher taxes, or both." This assessment of this year's state of public finances shows a disproportionate increase in public spending compared to revenues, which will obviously have to be urgently funded through new debt. In addition, the Governor of the National Bank points out: "We will end up with higher inflation than that in the eurozone, but still within manageable limits. The trend of procyclical fiscal policy, which is a factor in increasing prices of goods and services, must be broken." He gives examples and urges the Minister of Finance to take action. на над 10%; достигане на публичен дълг от над 50%. "The Deputy Chairman of VMRO justifies his position with the economic and political crisis in France and Germany, which inevitably lead to turmoil in the EU and the Eurozone. He outlines the grim scenario that would follow for Bulgaria in this situation, if the country does not request a delay of our entry into the "club of the rich". At the moment, based on financial discipline indicators, as well as projections for the annual inflation rate, budget deficit and public debt, it is fully justified to request a delay, postponement, or derogation for the adoption of the euro. Otherwise, it is highly likely that the following scenario will unfold - after January 1, 2026, a budget deficit of over 3% will be recorded for 2025 with a tendency to be even over 5%; an annual inflation rate for 2025 exceeding 10%; and a public debt reaching over 50%." Г.М. Димитров № 93 Above the average for the eurozone countries, i.e. above 5%; increase in public spending, and therefore the national debt as a percentage of GDP above 40%, which is already critical. In practice, under this scenario, it could turn out that Bulgaria has not met and does not meet three or two out of three criteria for joining the Eurozone. In this situation, we risk being placed under special supervision immediately after joining the Eurozone, which is hardly the purpose of Bulgaria's accession to the Eurozone. We also attach the full text of the letter from the deputy chairman of VMRO, Carlos Contrera, to the Council of Ministers of the Republic of Bulgaria:   TO THE COUNCIL OF MINISTERS OF THE REPUBLIC OF BULGARIA:   PROPOSAL   by Carlos Contrera,   Deputy Chairman of the political party “VMRO - Bulgarian National Movement”   Sofia, 93 G.M. Dimitrov Street "Pirotsko 5, e-mail: vmro@vmro.bg Dear Mr. Prime Minister, Respected Ministers, In regards to the adoption of the Euro on 01.01.2026, I believe that we are not ready for it. Therefore, I propose that the Council of Ministers takes steps to declare to the European Commission and the European Central Bank a postponement of the Euro introduction date by at least two years. At the same time, urgent changes need to be made to the law on the introduction of the Euro in the Republic of Bulgaria to reflect the postponement. In recent weeks, experts have been talking extensively about the fact that the budget deficit will exceed the permissible 3%. In this regard, the Fiscal Council made statements on September 19, as seen on their official website, stating that "we are heading towards a 4-5% deficit in the budget for 2025." The Governor of the Bulgarian National Bank on 11 October 2025, in an official statement said, "If expenditures are sustainably maintained at over 40% of GDP, they will have to be financed either through debt, or higher taxes, or both." This assessment of this year's state of our public finances shows disproportionate growth in public spending compared to income, which will obviously have to be urgently financed through new debt. In addition, the Governor of the Bulgarian National Bank pointed out that "we will end up with a higher inflation rate than that of the eurozone, but still within manageable limits." The trend of pro-cyclical fiscal policy, which is a factor for increasing prices of goods and services, must be broken. These arguments have been stated by official representatives of the state administration - both the Fiscal Council and the Bulgarian National Bank are institutions that have a direct connection to the management of state finances. In this sense, the statements made are from individuals representing official state bodies, not personal opinions or from private entities. In practice, it turns out that in terms of all three criteria for joining the eurozone, there is already data and forecasts that they will not be met. This leads to the conclusion that Bulgaria has not been able to meet the criteria for inflation, debt and budget deficit. It is important to note that the criteria are related to their sustainable compliance, not to momentary execution for two to three or six months.   At the moment, considering the indicators for financial discipline, as well as the forecasts for annual inflation, the budget deficit, and the public debt, it is fully justified to request a postponement, a deferral, or a derogation for the date of euro adoption. Otherwise, the following scenario is highly likely to unfold - after January 1, 2026, a budget deficit for 2025 of over 3% is recorded, with a tendency to reach 5%; a higher annual inflation for 2025 compared to the eurozone average, i.e. above 5%; an increase in public spending, and in turn, the state debt as a percentage of GDP exceeding 40%, which is already critical. In practice, this scenario could lead to the realization that Bulgaria has not met and is not meeting all three or two of the three criteria for joining the Eurozone. In this situation, we risk being placed under special supervision immediately after joining the Eurozone, which is hardly the purpose of Bulgaria's accession to the Eurozone. We must consider the fact that the timing for adopting the common European currency is highly inappropriate due to the debt problems of France and the recession in Germany - the two main pillars of the Eurozone. From the perspective of state and institutional readiness to adopt the euro as the currency, it should be noted that technically, Bulgaria is not ready for euro adoption. There are still a huge number of normative and administrative uncertainties about how the Law on the Introduction of the Euro in the Republic of Bulgaria will be applied, including purely formal omissions - for example, many municipalities have not yet amended the regulatory acts regulating the conversion. Dear Mr. Prime Minister, Dear ladies and gentlemen, ministers, I urge you to take into account the real factual situation, as well as the opinions of representatives of the fiscal council and the governor of the Bulgarian National Bank. In this regard, I propose that the Council of Ministers make a decision to request a postponement of the introduction of the euro, as well as to take measures for legislative proposals to reflect the postponement in the Law on the Introduction of the Euro in the Republic of Bulgaria. Sincerely, City of Sofia.