Bulgaria Climbs 2 Places Up in EU Funds Absorption Ranking

Bulgaria has outpaced Italy and the Czech Republic in the rate of EU fund absorption, EU statistics show.

Lithuania, at 93.7%, is the "champion" of absorption.

According to the Regional Policy directorate at the EU Commission, the country is currently ranking 23rd in terms of "percentage of available funds paid out by the Commission", up from the previous 25th place in 2014.

Even though Bulgaria is still well in the list's bottom section, with 65.5% absorption, followed by Italy, the Czech Republic, Slovakia and Romania.

Croatia, the EU's newest member, is also the least successful one with 45.1%.

The data available is a summary for the 2007-2013 program period.

By the end of 2015, however, Bulgaria has to absorb the remaining 34.5% (EUR 2.5 B) of the sum which will not be available next year.

This follows a move by the EU Commission to approve two new operational programs for 2014-2020, with EUR 335 M in funding for Good Governance and Science and Education for Smart Growth.

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