Bulgaria’s EU Funds Absorption: Maximizing the Potential!

February 6, 2014

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Format: Chicago

Iana Paliova, and Tonny Lybek. Bulgaria’s EU Funds Absorption: Maximizing the Potential!, (USA: International Monetary Fund, 2014) accessed September 19, 2024

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.

Subject: Auditing, Budget planning and preparation, Expenditure, Infrastructure, National accounts, Potential output, Production, Public financial management (PFM)

Keywords: Accession funds, Auditing, Baltics, Budget planning and preparation, Bulgaria, EU budget, EU financing, EU funds, EU institution, EU member states, EU structural and cohesion funds, Global, Infrastructure, Managing authorities, OP EU, Potential growth, Potential output, WP

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2014/021
Stock No:

WPIEA2014021
ISBN:

9781475571684
ISSN:

1018-5941

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