Expected Losses under EU Environment Program 'Ten Times Less' Under Current Gov't

Bulgaria runs the risk of having just EUR 22 M under Operational Program Environment locked for 2014, compared to EUR 205 M in the previous year, the country's Environment Minister has said.

Ivelina Vasileva told reporters on Monday Sofia was putting in effort to speed up absorption procedures and to avoid all corrections.

In her words, as many as EUR 720 M from the 2007-2013 period have to be absorbed under the program to avoid losses in the further period.

Direct payment under EU funding between 2014 and 2020 amounts to EUR 7 B, a sum amounting to more than two percent of the projected GDP for this year.

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