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Bulgaria risks losing EU funds due to slow absorption
Finance and Taxes
A strategic report made by the European Commission regarding the cohesion policy reads that Bulgaria, Romania, the Czech Republic, Hungary, Italy and Malta could lose some of their EU funds if they do not speed up the absorption of this money.
Romania is in the worst situation as the funds paid under EU programmes amount to only 15% of the total sum provided, followed by Bulgaria with 30%.
The EC report on the cohesion policy also reads that Bulgaria has marked positive results with regard to employment, economic activity, gross domestic product per capita, labor productiveness and the share of people with access to sewerage system and water-mains.
Source: www.bnr.bg
(19.04.2013)