The Chief Treasurer of the Bulgarian National Bank stated that 520 tons of euro banknotes and 3,600 tons of euro coins will be needed for circulation in Bulgaria after entering the Eurozone, with plans to withdraw Bulgarian banknotes and coins. The design of Bulgarian euro coins will feature national symbols like the Madara Horseman and St. Ivan Rilski, with storage facilities in major cities and plans for issuing commemorative and collector coins. Bulgaria will have a transition period of 1 month for parallel use of levs and euros, followed by a 6-month exchange period without fees, emphasizing the benefits of joining the eurozone and the approved design elements for the national side of the coins.
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UK businesses brace for economic gloom in 2025
Businesses are preparing for economic uncertainty in the new year following Rachel Reeves's Budget, with a CBI survey revealing plans for reduced output and hiring. Expectations for growth are at their weakest since Liz Truss's time in office, largely due to the chancellor's national insurance hike. Despite defending her tax increases as necessary for economic stability and growth, Reeves faces criticism as the economy faces a bleak outlook. Full Article
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