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2 clusters · 5 sources · 11 days · First seen · Last updated

Bulgaria Recovery and Resilience Plan implementation

Overview

Bulgaria is managing fiscal pressures and administrative reforms related to its National Recovery and Resilience Plan (RRP). In August, the country’s budget deficit rose to 3 billion euros, or 2.4% of projected GDP, up from 2.2 billion euros in July. The Ministry of Finance attributed this increase to large investment payments required to meet RRP activity deadlines.

Despite these fiscal pressures, Deputy Prime Minister Atanas Pekanov announced that the success rate for the RRP is now expected to exceed 90%, a significant rise from initial projections of 50%. Pekanov noted that the current administration worked to mitigate risks of losing hundreds of millions of euros due to previous cabinet decisions regarding the anti-corruption commission. Reforms in the civil service and water and sanitation sectors have been implemented to secure funding and ensure independence from previous political influences.

Entities

European Commission · Bulgarian Ministry of Finance · Boyko Borisov · Atanas Pekanov · Bulgaria

Timeline

  1. about 4 hours ago

    [POLITICS] 2 sources
    Bulgaria expects over 90% success rate for Recovery and Resilience Plan

    Bulgarian Deputy PM Atanas Pekanov expects the National Recovery and Resilience Plan results to exceed 90%, citing successful reforms and the prevention of significant EU fund losses.

  2. 10 days ago

    [BUSINESS] 4 sources
    Bulgaria budget deficit reaches 3 billion euros in August

    Bulgaria's budget deficit rose to 3 billion euros in August, or 2.4% of GDP, driven by large Recovery and Resilience Plan investment payments.

Sources

forbesbulgaria.bg · petel.bg · plovdiv24.bg · ruse.news · ruse24.bg