EP supported an increase of over BGN 3 Billion in post-2020 budget for Bulgaria

The European Parliament (EP) supported an increase with over BGN 3 Billion for the provided by the EU to Bulgaria funding post-2020. That became clear after the adoption by the EP of the legislative report, submitted by the Bulgarian MEP (GERB/EPP) Andrey Novakov, in his capacity of co-rapporteur, that envisages an increase of the currently allocated BGN 14,6 Billion, to BGN 18 Billion for the 2021 – 2027 period. This is the largest budget for regional development, infrastructure, environment and employment, from Bulgaria’s association into the European Union (EU) up to now. „The approval by the EP is more than satisfactory and it corresponds to the ambitions – both of the EU and of Bulgaria - for faster regional development and for growth of living standard of population. This was my goal as negotiator in respect to the rules that, after less than 2 years, will regulate the work of European funds“, Novakov had underlined after the voting. He had added as well, that thereby Bulgaria is ranked among the first three states with highest increase of cohesion funds, while for the EU the average reduction is 11%. „By a great majority of the EP the mandate to start the negotiations with the Council was delegated to me and to my colleague, co-rapporteur, with the first meeting scheduled for 19 February, in Brussels. Negotiations will continue until the middle of March and afterwards the results are to be adopted at a plenary sitting”, additionally commented Andrey Novakov. The approved text provides that the poorest regions will have to co-finance only 15% of the value of projects, whereas the European Commission suggested they to pay 1/3 of it. Another important point in the legislative report is its goal the cohesion policy to support the fight against the demographic crisis and poverty in the most affected regions.