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Bulgaria’s EU Funds Absorption: Maximizing the Potential!
Author:
Iana Paliova
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Mr. Tonny Lybek
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Series:
IMF Working Papers
Volume/Issue:
Volume 2014: Issue 021
Language:
English
Publication Date:
06 Feb 2014
DOI:
https://doi.org/10.5089/9781475571684.001
ISBN:
9781475571684
ISSN:
1018-5941
Pages:
64
Keywords:
WP; EU funds; managing authorities; EU budget; EU institution; EU member states; Bulgaria; EU structural and cohesion funds; potential growth; accession funds; OP EU; EU financing; Auditing; Budget planning and preparation; Infrastructure; Potential output; Global; Baltics
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper focuses on EU structural and cohesion funds assistance to Bulgaria during the 2007–13 program period. Initial weaknesses resulted in a low absorption rate, which was mitigated by increasing advance payments; applying electronic application and reporting procedures; simplifying and unifying tender processes; and strengthening the role of international financial institutions and banks in project preparation, evaluation and monitoring. The possible impact on growth and potential output is briefly discussed, while the risks of improper absorption are acknowledged. Valuable lessons have been learned, but it is recommended that additional steps be taken for the next program period 2014–20.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2014: Issue 021