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EC: Bulgaria late in implementing RRP

published on 6/19/24 6:43 PM

Photo: БГНЕС

Bulgaria is significantly behind in the implementation of the Recovery and Resilience Plan (RRP), says the report on the country prepared by Brussels for 2024, reports BNT. Bulgaria's RRP amounts to 5.689 billion euro in grants. So far, Bulgaria has received only one payment of 1.37 billion euro.

However, the delay in the implementation of the plan is preventing the country from receiving the remaining funds. So far, Bulgaria has met only 22 out of 321 targets. The deadline for implementing the RRP is August 2026.

One of the European Commission's recommendations is to improve the business environment. Some 53% of investors in the country are not confident that their investments will be protected by the legal and judicial system. Bulgaria also faces challenges in decarbonising its economy and energy production. According to Brussels, the delayed liberalisation of the electricity market is hampering the transition to clean and affordable energy.

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EC: Bulgaria late in implementing RRP

More from category

Blagoevgrad to host the 32nd edition of the International Mathematics Competition for University Students

85 folk ensembles to participate in the "Sparks from the Past" festival in Apriltsi

Red heat alert issued for 12 Bulgarian districts, orange code alert in effect for the rest of the country

Blagoevgrad to host the 32nd edition of the International Mathematics Competition for University Students

85 folk ensembles to participate in the "Sparks from the Past" festival in Apriltsi