Bulgaria Boasts 92 % Absorption Rate of EU Funds - PM Borisov

Politics » DOMESTIC | August 30, 2015, Sunday // 13:02
Bulgaria: Bulgaria Boasts 92 % Absorption Rate of EU Funds - PM Borisov Bulgarian Prime Minister Boyko Borisov. File photo

Prime Minister Boyko Borisov stated on Sunday that Bulgaria's absorption rate of EU funds amounted to 92 %.

Borisov added that in this respect Bulgaria outperformed Romania by 20 %, private bTV station reports.

According to him, if it not had been for the government of Prime Minister Plamen Oresharski, the construction of Hemus motorway would have moved forward rather than still being at project phase.

Borisov pointed out that in the past months the government made enormous efforts to defend the EU projects before officials in Brussels.

The funding for the majority of the projects expires at the end of the year and in case the funds are not absorbed, Bulgaria will not only lose them, but will also face repayments.

The prime minister noted that Hemus motorway is of vital importance to all of northern Bulgaria, especially to business, tourism and the economy as a whole.

Borisov added that Brussels clearly witnessed the achievements of the government and stood firmly behind the cabinet's policies.

In his words, Bulgaria's fiscal stability, decreasing unemployment, economic growth, good investment environment and security were all factors highly appreciated by the EU.

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Tags: Bulgaria, EU, funds, Boyko Borisov, Hemus motorway, Romania, Plamen Oresharski, absorption, business, economy, tourism, investment, unemployment
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