EU Funds 'to Increase Bulgarian GDP by 9.3%', Minister BelievesBulgaria in EU | September 18, 2012, Tuesday // 16:09| views
According to Tomislav Donchev (pictured), Bulgaria would be able to increase salaries by 34.6% by 2015, while the employment rate would grow by 4.8%. Photo by BGNES
Bulgaria's GDP will be 9.3% higher in 2015 than what is now expected, provided that the country absorbs all EU funds money it can, Bulgaria's EU Funds Minister has claimed.
On Tuesday, EU Funds Minister Tomislav Donchev presented a mathematical model called SIBILA (Simulation of Bulgaria's Investment in Long-term Advance).
According to the model, Bulgaria would be able to increase salaries by 34.6% by 2015, while the employment rate would grow by 4.8%.
The mathematical model juxtaposes Bulgaria's potential full absorption of EU funds by 2015 and the opposite scenario – no EU funds for the country whatsoever.
Donchev expects Bulgaria to absorb at least EUR 8 B in EU funds money over the next 7-year program period.
"As of the end of August, we received from Brussels a total of over EUR 1.8 B, or approximately 27% of all financing we should receive under the operational programs," he said, as cited by the Cross news agency.
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