Brussels to Delay Cash Injection for Bulgaria over Money Woes - Report
The European Commission will delay cash injections for Bulgaria under the new operative programs due to financial woes, according to unconfirmed reports.
The European Commission fears that the payment of all legitimate bills for this and next year will put its budget in the red, Standard daily reported, citing sources.
Bulgaria is about to receive EUR 7 billion in 2014-2015 to fund already approved projects.
The payments will start no earlier than 2015, the source added.
The European Commission admitted for the first time to grave financial problems at the end of October last year.
Back then the European Union voted through EUR 2.7 B in new cash contributions from national treasuries after senior officials warned of the threat of chaos and unpaid EU bills.
- » Bulgaria Runs Huge Risk of Losing EU Funds - Deputy PM
- » European Commission OKs 39 New Operational Programs, None of Them Bulgarian
- » Bulgaria to Seek Long-Term Loan for 240-km Section of Hemus Motorway
- » Bulgaria PM to Seek Unfreezing of EU Funds in Brussels Next Week
- » French Ambassador: EU Monitoring On Bulgaria Might Increase
- » Bulgarian Ministers Desperate to Negotiate Reduction of EU Funds Losses in 2014