Bulgaria Drops One Place to #24 by EU Funds Absorption

Bulgaria’s EU funds absorption has decelerated over the past two weeks, sending the country one place down in the ranking, from 23 to 24, out of the EU-28.

Bulgaria ranks 24th with an EU funds absorption rate of 76.9%, according to statistics available on the website of the European Commission's Directorate-General for Regional and Urban Policy, as cited by the BGNES news agency.

With less than six months to go before the expiration of the end-2015 deadline for absorbing EU funding under the 2007-2013 programming period, Bulgaria has around EUR 1.8 B more to absorb or else lose the money, as EU Regional Policy Commissioner Corina Cretu reminded during her recent visit to Sofia.

Estonia and Portugal boast the highest rates of EU funds absorption a, nearly 95%.

Greece reports an EU funds absorption rate of 91.1% for the 2007-2013 programming period, landing 7th among the 28 EU Member States.

The four EU countries performing worse than Bulgaria in the sphere of EU funds absorption are Italy, Slovakia, Romania, and Croatia.

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