Bulgaria will receive 1 billion euro more in new European Union budget

Over the next 7 years Bulgaria will receive EUR 29 billion

published on 7/21/20 11:06 AM

Photo: BGNES

After the marathon European Council meeting in Brussels, the European leaders struck a deal on the EU’s budget for the next 7 years and the coronavirus recovery plan. “Bulgaria is one of the countries which will receive more money – over 1 billion euro more – in the new EU budget,” Prime Minister Boyko Borissov announced in a video comment on Facebook.

For the first time an additional 200 million euro is envisaged for the country, which will be directed towards the least developed regions of Bulgaria. There, the country must focus on competitiveness, growth and job creation.

European funding for the Cohesion and Agricultural Policy of Bulgaria is maintained, with EUR 9 billion earmarked for cohesion policy, which is EUR 800 million more than in the previous Multiannual Financial Framework.

Under the Next Generation EU Package, Bulgaria will be able to count on grants totaling 7.7 billion euros, under the Just Transition Fund it will receive 500 million euros, and for the protection of the EU's external border - over 200 million euros.

The total funds provided for Bulgaria under the new Multiannual Financial Framework and the Next Generation EU Package reach EUR 29 billion.

For the EU as a whole, the total amount of the Multiannual Financial Framework for the next 7 years will be EUR 1 trillion and 74 billion, and the total amount of the Next Generation EU Package will be EUR 750 billion.

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