Bulgaria’s Ministry of Finance (MoF) has squeezed out by almost 48% requested financing under the five major operational programmes of the EU’s cohesive and structural funds, a check of Dnevnik showed.OP Transportation has suffered the deepest chop and Competitiveness is the only programme without reduction.The MoF does not buy the possibility that the requested BGN 3.7 billion could be absorbed in 2011, comparing the figure to this year’s performance.
The lop-off comes against the backdrop of the government’s commitment to EU financing absorption as its top priority. Together with exports, the Cabinet of right-of-centre party GERB says it pins its hopes on EU funds to jumpstart the economy next year when the MoF anticipates 3.6% growth in order to hit on its revenue target.“The 2011 limits are not that low as this is the real absorption capacity of the operational programmes,” a senior finance ministry official said on condition of anonymity. “If they achieve high absorption levels in 2011 they will get their EU financing. Co-financing will also be provided even if there is a risk of higher deficit,” he added.
News source: Dnevnik a.m. link: article
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