The EU Budget will be Discussed in Sofia

Politics » BULGARIA IN EU | March 9, 2018, Friday // 10:14
Bulgaria: The EU Budget will be Discussed in Sofia

European Commissioner for Budget and Human Resources Günther Oettinger will take part today in the high-level conference in Sofia, whose main topic is the EU budget. The meeting will discuss the different options for the long-term Community budget after 2020.

Britain's exit from the European Union will deprive the European budget of 12 to 15 billion euros. One option for replenishment is for Member States to import more than one percent of their gross domestic product. It is about increasing the contribution to 1.1 percent or more. This option does not yet meet the approval of countries that are net recipients of EU funds. Bulgaria is also a net recipient of funds, but Prime Minister Boyko Borisov has recently expressed the view that it is better to accept the increase in contributions.

Part of the European Union's priority policies for the next seven years, such as defense and security, also require more resources. That is why the withdrawal from some of the funds - especially subsidies for agriculture - is being discussed.

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Tags: EU, budget, discussion, sofia
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