Bulgaria Lags in Absorbing EU Funds, Risking Losses and Growing Debt
Bulgaria is falling behind in its utilization of European Union funds
Over 3% growth in the economy in 2019, awaits the Ministry of Economy this year, reported the Bulgarian National Television.
This was stated by the Minister of National Affairs Emil Karanikolov from the floor of the National Assembly. He argued that foreign direct investment in 2018 had fallen by 40%. Last year's investments in our country amounted to a billion and a half million euros.
Emil Karanikolov, Minister of Economy: Foreign direct investments for 2018 not only is not less than the previous, but has increased by just over 10% in one year, the FDI inflows in Bulgaria amounted in the past year to 1.5 billion , which is 10.3%, or 143 million more than the investments made between January and December 2017.
Bulgaria is now on the path to joining the Eurozone, with January 1, 2026, being the target date for its entry
Preparations for Bulgaria’s entry into the eurozone are well underway, despite the exact timeline remaining uncertain
Bulgaria is on the verge of meeting the inflation criterion
The European Bank for Reconstruction and Development (EBRD) has significantly increased its investments in Bulgaria for 2024
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry
Bulgaria has met the inflation criterion required for entry into the Eurozone, with an average annual inflation rate of 2.6% over the last 12 months
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