Currency Board Set To Stay

January 2005 | Market Alert

Bulgaria's opposition Socialist Party (BSP) is now 15pp ahead of the governing National Movement Simeon II in the opinion polls on 26.4%, and with parliamentary elections due in June, attention is increasingly focussing on its economic policy. At the centre of recent controversy has been the currency board arrangement, which pegs the lev to the euro at BGN1.9557/EUR. While BSP leader Sergei Stanishev recently suggested that he was personally in favour of maintaining the link, he indicated that the matter was still subject to discussion if his party won the election.

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