Bulgaria will apply to join the currency mechanism of the European Union that precedes the membership in the eurozone – ERM II (Exchange Rate Mechanism) – in November.

The rate of the national currency with the euro will remain the same until Bulgaria’s admission, stated Simeon Dyankov – economist from the World bank.

He added that the devaluation of the lev in comparison with the euro as a result of the global economic crisis is not possible.

“The next government of Bulgaria will apply new measures to counter the recession and keep the fiscal stability,” assured he.