Bulgaria 23rd in EU by EU Funds AbsorptionBulgaria in EU | June 2, 2015, Tuesday // 07:36| views
Photo by EPA/BGNES
Bulgaria remains 23rd among the 28 EU Member States by EU funds absorption, according statistics of the Directorate-General for Regional and Urban Policy of the European Commission.
Bulgaria was given the green light by Brussels for 76.3% of the EU funds granted.
At the same time, Romania, which joined the EU together with Bulgaria on January 1, 2007, reported an EU funds absorption rate of 61.4%, landing at place 27.
However, Romania had access to a larger amount of EU funding in the past programming period due to its larger territory and population, according to Bulgaria’s BGNES news agency.
In the 2007-2013 programming period, Romania had access to EU funding totaling EUR 19.7 B, while Bulgaria had access to less than EUR 7 B under the EU’s Structural Funds and the Cohesion Fund.
Estonia tops the ranking with an absorption rate of 94.9%, followed by Portugal with 94.3% and Lithuania with 93.7%.
Bulgaria’s government hopes to boost the absorption rate by 85% by end-2015, when the projects for the 2007-2013 programming period must be wrapped up.
Over the next few weeks Bulgaria expects to be given the green light for the last two operational programs of the 2014-2020 programming period, namely operational program Environment and operational program Regions in Growth.
By 2022 Bulgaria will have access to nearly EUR 16 B.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!