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Bulgaria Chronically Lags Behind in EU Funds Absorption - Study.

A KPMG study lists Bulgaria the worst among 10 EU member states in terms of contracting and absorbing European funds, 2007-11.

At 37% of funds contracted, Bulgaria is last and well below the EU average of 53%.

For the Administrative Capacity and Technical Assistance operational programmes though, Bulgaria is at the EU average level.

Overall for rate of contracting, the champions are Latvia with 76% of funds and Lithuania with 68%.

In terms of funds absorbed, next to last with 10% of funds absorbed, followed only by Romania with only 7%.

The top member here again is Latvia with 30% of European funds absorbed, followed by Lithuania and Slovenia.

The KPMG study shows Bulgaria as being particularly bad in absorbing funds for science and innovation, health and energy project, for which the country has not contracted a single Euro up to March 2011.
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Publication:Sofia News Agency
Geographic Code:4EXBU
Date:Jun 15, 2011
Words:143
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