Year after Brussels suspended funding under the Environment OP because of irregularities related to the public procurement procedures, news emerged that financing is being unblocked. It totals some 400 million euro provided for the implementation of large municipal projects in the field of water management and waste treatment. Brussels’ decision came after adjustments to the projects totaling some 50 million euro were made. The news was welcomed with great relief by Bulgarian municipalities that spent a nightmarish year when a number of projects had to be stopped because of the lack of money.
"Our reserves were exhausted at the end of last year, because these are some costly projects,” Ginka Chavdarova, Executive Director of the National Association of Municipalities in Bulgaria told Radio Bulgaria. “That is why work stopped almost everywhere. After that resources from the national budget were used until February. 3-4 months followed without any financing until the caretaker government stepped into office. It was all a great trial for the citizens, as project implementation was associated with serious negative consequences for the access of people to their homes, jobs, schools, hospitals, etc."
Because of the great number of blocked streets due to diggings for repair works the National Association of Municipalities called this summer on the European Commission to find a quick solution. Moreover, Bulgarian towns and villages were affected this year by several severe floods, which further complicated the situation. Their requests were heard, but according to Ginka Chavdarova, now municipalities will have to race against time.
"The implementation depends a lot on weather conditions,” Ms. Chavdarova explains. “If spring came earlier we would be able to renew construction works earlier and the risk of not using European money will be minimal. But if we have a lot of snow we shall be racing with time as the deadline is September 2015."
The Executive Director of the Association of Municipalities hopes in the future municipalities will not have such problems, which in the case emerged mainly from poorly synchronized Bulgarian legislation related to public procurement procedures.
"I hope at least we learned not to waste time when mass shortcomings in the management of projects are discovered. In these cases, one must react quickly to minimize the risk of loss of EU funding. It should not be the Bulgarian taxpayer the one to bear the financial burdens because of bad management decisions."
Bulgarian Prime Minister Boyko Borissov has recently admitted that European funds represent 72% of all investment resources of the state.
English: Alexander Markov
On January 27th, government securities for 150 million euros (300 million leva) will be offered on the domestic market , the Bulgarian National Bank (BNB) announced. The bonds will have a maturity of 7 years and an annual interest rate of 3.25%. On..
Bulgaria is making the necessary progress towards adopting the euro, according to representatives of the European institutions whom Finance Minister Temenuzhka Petkova met with. This progress will allow Bulgaria to request extraordinary convergence..
Financial and tax stability has been shaken in recent years so it is good that a government has been formed, said Vasil Velev, chairman of the Bulgarian Association of Industrial Capital, at a joint press conference of employers. "Romania was..
In 2024, Bulgaria's exports of goods to third countries decreased by 5.1% compared to 2023, amounting to EUR 15.4 billion (30 114.9 million BGN),..
+359 2 9336 661