Bulgaria Loses EUR 51 M in EU Agriculture Funds

Business | January 2, 2013, Wednesday // 14:39

Bulgaria has left EUR 51 M of EU funds for agriculture unabsorbed in 2012, and this amount will be substracted from its funds for the next programing period.

This was announced Wednesday at a press event by Bulgarian State Agriculture Fund director Rumen Pozhoranov.

Bulgaria has absorbed EUR 381 M from the European Agricultural Fund for Rural Development (EAFRD)'s EUR 431 M allotted for 2010.

The payment of funds on EAFRD is two years after the approval of the budget.

This means that on this instrument, Bulgaria has a 88% rate of absorption for 2012.

According to Pozhoranov, one of the main reasons for less than optimal absorption is that the program for Bulgaria started two years later.

The main area with deficient absroption is the so-called axis 2, comprising "environmental measures" to be implemented by agriculture producers.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: EU funds, agriculture, EAFRD, State Agriculture Fund, environmental
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria