Bulgaria could adopt the euro by 2013

Bulgaria could become a eurozone destination as soon as 2013, some analysts have predicted.

According to a report by Novinite, the European parliament president Jerzy Buzek has said he would welcome Bulgaria into the European Union, after meeting with the country's prime minister last month.

"Bulgaria has the opportunity to become member of the eurozone in 2013. I would welcome this kind of development," Novinite reported Mr Buzek as saying.

The news is sure to interest individuals with a property interest in the country or those looking to buy there in the future, as it means property in the country will benefit from the introduction of a stable economy.

One requirement that the European Union enforces before adoption of the currency is that budget deficits must be within three per cent of GDP.

The announcement comes at an ideal time, as many analysts are expressing concerns that the Greek debt crisis could spill-over to the destination.

Bulgaria was recently named as one of the best destinations for investment in 2010 by overseas investment company Property Venture.

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