Bulgaria’s Economy Faces Slowdown and Rising Debt: EU Forecast Signals Trouble Ahead
The European Commission has revised its outlook for the Bulgarian economy, projecting a slowdown in growth over the next few years
The European Commission has reported that EU Member States are significantly closer to meeting the 2030 climate and energy targets, following the Commission’s assessment of their National Energy and Climate Plans (NECPs). Countries have considerably improved their plans in line with recommendations made in December 2023. Collectively, the EU is now well on track to achieving a 55% cut in greenhouse gas emissions by 2030, as stipulated in the European Climate Law, and to securing a renewable energy share of at least 42.5%.
According to the Commission’s evaluation, the EU is poised to reduce net greenhouse gas emissions by about 54% by 2030, relative to 1990 levels, assuming Member States fully implement current and planned national measures along with EU policies. Despite the current geopolitical challenges, the EU remains steadfast in its climate goals, committing to the clean energy transition while maintaining industrial competitiveness and focusing on social fairness.
Initiatives like the Clean Industrial Deal and the Affordable Energy Action Plan will further bolster the NECPs, driving investments in industrial decarbonisation and clean technology. These efforts aim to make the most of Europe’s renewable energy potential and improve energy efficiency, ultimately leading to lower and more stable energy costs in the future.
Member States are showing strong political commitment to reduce dependence on imported fossil fuels and to strengthen the security and resilience of energy systems and infrastructure. The Commission also noted the importance of these efforts in supporting vulnerable groups through investment and skills development.
This assessment lays a robust groundwork for shaping the EU’s climate and energy policies beyond 2030, with a view towards climate neutrality by 2050. The Commission plans to work closely with Member States to address remaining challenges and will issue further guidance based on the latest findings.
In the next phase, the focus will shift to translating plans into concrete actions to ensure policy stability and predictability. This includes prioritising public funding to support transformative projects, spurring private investment, and coordinating efforts at both the regional and EU levels. The Commission reaffirmed its support for these national implementation efforts and for tackling any remaining gaps.
Belgium, Estonia and Poland, which have yet to submit their final plans, have been urged to do so promptly. While their targets were included in the EU’s general assessment, the Commission will conduct individual evaluations of these plans upon their formal submission. Slovakia’s final NECP, received on April 15, 2025, is also undergoing individual review.
Under the Governance Regulation of the Energy Union and Climate Action, Member States must regularly provide NECPs, outlining how they will meet the 2030 climate and energy goals and ensure a just and resilient transition to climate neutrality. These plans, initially completed in 2020, required updates to align with the 2030 targets under the Fit for 55 package.
Updated draft NECPs were due by June 30, 2023, and the Commission provided an EU-wide assessment, along with country-specific analyses and recommendations, in December 2023. Member States had until June 30, 2024, to finalise and submit their plans. Today’s release includes an EU-wide assessment and a Staff Working Document, which features individual assessments for 23 national plans and additional guidance for implementing the plans effectively.
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