Bulgaria’s EU Funds Absorption: Maximizing the Potential!

Author/Editor: Iana Paliova ; Tonny Lybek
Publication Date: February 06, 2014
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: 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.
Series: Working Paper No. 14/21
Subject(s): Financial assistance | Bulgaria | Absorptive capacity | Public investment | Government expenditures | European Union

Publication Date: February 06, 2014
ISBN/ISSN: 9781475571684/1018-5941 Format: Paper
Stock No: WPIEA2014021 Pages: 64
US$18.00 (Academic Rate:
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