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Bulgaria Marks 10% Increase in EU Fund Absorption
BULGARIA MARKS 10% INCREASE IN EU FUND ABSORPTION
Date: 12/06/2015
Source: www.novinite.com
Bulgaria Marks 10% Increase in EU Fund Absorption

Bulgaria has marked a 10% increase in EU funds absorption over the first 5 months of 2015, according to a statement made available through a specialized Directorate to the Bulgarian Council of Ministers.

According to the data, 77,45% of the funds have been absorbed by end May 2015 as compared to 67,4% by end 2014. Regardless of the overall good pace in EU fund implementation, it will still not suffice for Bulgaria to surpass 85% by the end of the year.

The report further shows that since the first program period is going to be completed by the end of the year, the pace of EU fund absorption has increased exponentially. Additionally, despite the fact that the operational program ‘’Environment’’ has been stopped for over year, little effect has been felt.

Currently the best performing programs in terms of fund absorption are Human Resource Development – 91,22%, Competitiveness – 83,92% and Agriculture and Fishing Funds – 82,08%.



Topic: Financial



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The biggest city at the Bulgarian Black Sea coast, Varna is situated 470 km east of Sofia. In the course of more than 7 millennia, the Gulf of Varna has been the cradle of several significant civilizations - humankind's oldest gold was excavated in Varna, created by people who inhabited that place around the 4th millennium BC and long before the Thracians, Greeks, Bulgarians and Turks.

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