Bulgaria Lags in Absorbing EU Funds, Risking Losses and Growing Debt
Bulgaria is falling behind in its utilization of European Union funds
The deadline for the evaluation of insurance and pension funds has been extended until the end of January, announced the Financial Supervision Commission.
Initially, the deadline for the results of the review of the assets of pension funds and of the balance of insurers was the end of December.
The Financial Supervision Commission explained that the extension of the deadline is due to the review at a group level which includes the indices of related insurance companies in other countries.
The results of the review, together with the stress tests in the insurance sector will be announced on February 3.
A little after assuming office as chairman of non-banking supervision, Karina Karaivanova discovered “false data” reported by one of the audit companies.
The companies working with that particular auditor had to choose a new one urgently.
Economists have urged Bulgaria’s leadership to submit an application to the European Commission and the European Central Bank for an extraordinary convergence report on joining the eurozone
Representatives of Bulgaria’s ruling coalition have once again highlighted a significant deficit in the state budget, with Stanislav Balabanov from "There Is Such a People" (TISP) stating that 2025 will be a transitional year regarding the eurozone
Valeri Belchev, former acting Minister of Finance, recently expressed strong concerns about Bulgaria's financial management, particularly focusing on the lack of proper budget management tools
Kalin Hristov, former deputy governor of the Bulgarian National Bank and former finance minister, expressed concern over the public discourse on key economic issues
A recent survey conducted by the "Myara" sociological agency reveals significant skepticism among Bulgarians regarding the adoption of the euro
Economist Nikola Yankov, a former deputy minister of economy in Bulgaria and currently leading the economic team of the "Blue Bulgaria" party, expressed on BNR concerns about the current political and economic direction in the country
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