Bulgaria to receive BGN4.5bn of EU funding in 2019

Bulgaria will receive BGN4.5bn of EU funding for cohesion policy and agriculture in 2019 after the European Parliament and the EU Council agreed on the EU’s budget framework for next year, MEP Andrey Novakov announced, quoted by local media. Bulgaria continues to be one of the EU members, which receives highest payments compared to its EU budget contribution, Novakov added. The total EU funding distribution will allocate BGN1.5bn to Bulgaria for infrastructure, as well as another BGN1.5bn for farmer subsidies. The expected interim payments under the rural area development program will reach over BGN1bn and another BGN342m should come under the European Social Fund and the initiative for youth employment, MEP Novakov clarified. The expected acceleration of EU funds’ absorption in 2019 should finally boost grants’ revenues in the budget next year and contribute to rising public investment, in our view.

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