Thanks to EU cohesion funds, Bulgaria will see a growth of 1.8% of GDP by 2027

In some EU countries, cohesion funds represent significant support, and in Bulgaria their value by 2027 will reach 1.8 percent of GDP, according to data presented today by the European Commission and cited by BTA. It is added that in 2020, GDP per capita in Bulgaria was 55 percent of the EU average, and in the Sofia region it was 92 percent, while in all other regions it was from 36 to 42 percent.

It is noted that for less developed regions the funding is even higher and in the Bulgarian North-West region it exceeds 3.5 percent of GDP per year on average. According to forecasts, in the next four years, these European funds will contribute to GDP growth of three percent in our country, Romania and Portugal. By 2027, Bulgaria has 10.8 billion euros available for cohesion, and the funds will be directed to economic, social and territorial development, including the transition to an environmentally friendly and digitized economy.

The Commission clarifies that our country receives assistance for the development of innovations under the general policy for the exchange of technology and research results, and their application in companies and the economy, for the digitization of the administration. 140 million euros have been allocated for the improvement of Bulgarian centers of excellence, 200 million euros will be provided to 12 centers for digital innovation. Over 10,000 Bulgarian companies will receive targeted support to increase competitiveness through new production investments and the adoption of modern technologies.

It is added that the Bulgarian economy is the most energy-intensive in the EU and waste management remains a challenge, with household waste processing still significantly below the EU average. Bulgaria is among the most vulnerable countries in the EU to changes in nature, including rising temperatures, drought and excessive rainfall. To address these challenges, an investment of €2.1 billion will help our country achieve its goals for drinking water and urban wastewater quality, for a clean and circular economy, for biodiversity, and for comprehensive disaster risk management.

Over 1.7 million people will benefit from improved access to public water supplies and 340,000 people will gain access to new or improved wastewater treatment.

The density of railway lines and roads in Bulgaria is far below the EU average, with a third of the national road network being of poor quality, and this affects regional connectivity and road safety, the commission's assessment states. The EU is allocating 1.5 billion euros to address these issues. The planned investments will promote the use of clean modes of transport and alternative fuels, improve the quality of roads and contribute to reducing the harmful impact of transport on the environment. Projects to improve 167 kilometers of roads will be funded. With European funds, it is planned to develop railway sections, including the connection between Bulgaria and the Republic of North Macedonia and the Sofia-Pernik-Radomir line.

The levels of poverty and income inequality in Bulgaria are particularly high among children, people with disabilities, Roma and those living in rural and remote areas, adds the EC. 2.5 billion euros have been earmarked to combat these inequalities. The investment is expected to improve early childhood education and care. The funds will promote the inclusion of the most vulnerable groups, including the elderly and disabled, as well as the Roma.

It is expected that over 330,000 Bulgarian citizens will be supported in their job search, including over 45,000 Roma. In the field of education, 760,000 children and students will benefit from European funding. More than 530,000 low-income and disadvantaged Bulgarians are expected to receive food and cleaning supplies each year, and 50,000 to receive a hot lunch throughout the year.

In total, European funds are expected to contribute by 2030 to increasing the employment rate in our country to 79 percent, and every third adult will continue to study. He expects these measures to be beneficial for 787,000 Bulgarians threatened by poverty and exclusion from society. By 2029, European funds should improve housing conditions for 1,247 Bulgarians and provide support for energy efficiency in 3,731 residential buildings.