Bulgaria to receive BGN4.24bn from EU budget in 2018

Bulgaria will receive BGN4.24bn (close to EUR2.2bn) from the EU budget in 2018, according to the European Parliament’s position on the EU budget, which was adopted on Oct 25, local media reported. Almost EUR800m from the sum will be spent as direct payments to the farmers and another EUR 800mn will be allocated for urban development and infrastructure, MEP Andrey Novakov commented. He added that EUR 380mn will be directed at the rural regions’ development and EUR185m on employment schemes.

EU commissioner for budget Gunther Oettinger declared that Bulgaria’s competitiveness and Bulgaria’s GDP should be boosted through infrastructure investments. He added that the EU programs Horizon 2020 and Connected Europe are good means to improve the country’s infrastructure and economy. Oettinger will arrive in Sofia on Oct 27 to discuss the EU’s financial framework after 2020. The main topics will be the EU payments ceilings and the expectations for the next longer-term EU’s fiscal program, which has to be presented by May 2018.

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