Director of the Directorate

Reneta Mihaylova

Contact details:

102 “G. S. Rakovski” Str.
1040 Sofia, Bulgaria
telephone: (+359) 2/9859 2193
e-mail: 

DIRECTORATE’S MAIN TASK

The European Affairs and Policies Directorate at the Ministry of Finance assists in the formulation of Bulgaria’s national policy and national positions with regards to the design and implementation of European economic and financial affairs policies by providing analytical support and ensuring consistency with other relevant directorates of the Ministry and other institutions. The directorate ensures the effective participation of the representatives of the Ministry of Finance and other executive authorities in the working and political formats of the European Union in economic and financial affairs and the euro area matters. It also coordinates, organises and participates in the practical preparatory work for the country's accession to the euro area and, subsequently, the implementation of commitments arising from the euro area membership. Develops the official macroeconomic forecast of the Ministry of Finance for budget planning purposes. Analytically supports the process of preparing and updating the credit rating of Bulgaria.

The Directorate contributes to compliance with the effective management of financial resources in the implementation of public support measures in accordance with the rules and regime in the field of State aid by assisting the Minister of Finance in the exercise of his powers as the national authority responsible for the monitoring, transparency, assessment and coordination of State aid and „de minimis“ aid at national, regional and municipal level and in the implementation of public policy on the effective and efficient use of public funds. Ensures the implementation of the functions delegated by the European Commission for the assessment of block exempted aid measures. Coordinates and assesses measures and proposals for support for their compliance with the state aid legislation.

 

The directorate consists of seven divisions:

 Macroeconomic Analyses and Forecasts Division

• prepares the official macroeconomic forecast of the Ministry of Finance for the State Budget planning procedure and for other strategic documents of the Government.
• analyses the macroeconomic developments in the country and prepares periodic publications.
• participates in working groups and meetings on macroeconomic forecasting and analysis at inter-institutional level in Bulgaria, as well as at working formats to the European Commission, the Organisation for Economic Co-operation and Development, etc.
• provides analytical support in the process of assigning and updating the country's credit rating by the Credit Rating Agencies.
• organises and coordinates the country's adherence to the OECD Codes for the liberalization of capital movements and invisible transactions.

Budget of the EU Division

• is responsible for protecting the national interest on the EU budget-related matters by formulating the Bulgarian position, including by preparing analyses, forecasts and assessments of relevant proposals and providing expert-level support to the negotiation process with regards to the Multiannual Financial Framework (MFF), the EU annual budget, the EU own resources, the financial rules applicable to the EU general budget and other budgetary issues.
• acts as a Coordination Unit for the Own Resources in Bulgaria and is responsible for the timely payment of the Bulgarian contribution to the EU budget and organising and participating in the implementation of all commitments regarding the own resources system.

Fiscal Policy of the EU and Euro Area Division

• is responsible for the implementation of the Stability and Growth Pact, and the compliance with EU fiscal governance legislation.
• coordinates with the competent directorates within the Ministry of Finance and the competent ministries and institutions the drafting of the fiscal part of the Bulgaria's medium-term fiscal-structural plan and the annual progress reports.
• coordinates Bulgaria's preparation for euro area accession and, subsequently, the implementation of the commitments after the euro area membership.
• organises the drafting, coordination and presentation of Bulgaria's positions at the Economic and Financial Committee and the Eurogroup Working Group.

Economic Policies of the EU and European Semester Division

• coordinates the implement the European Semester in Bulgaria, including coordination with the competent directorates within the Ministry of Finance and the competent ministries and institutions the drafting of the investments and reforms parts of the Bulgaria's medium-term fiscal-structural plan and the annual progress reports.
• reports on the implementation of the key milestones and targets of the National Recovery and Resilience Plan within the European Semester.
• coordinates the implementation of the Technical Support Instrument of the European Commission.
• monitors the implementation of the macroeconomic imbalances procedure as well as the fulfilment of the commitments stemming from the country's membership in the Exchange Rate Mechanism II.
• organises the drafting, coordination and presentation of Bulgarian positions at the Economic Policy Committee and its working groups.

ECOFIN and Coordination Issues Division

• coordinates the preparation of Bulgaria's positions for the meetings of the Economic and Financial Affairs Council of the European Union (ECOFIN) and the Eurogroup in an inclusive format.
• is responsible for the centralised reporting of the travel expenses incurred by the Bulgarian delegates for attending meetings of the preparatory bodies of the Council of the European Union.
• participates in the implementation of the coordination mechanism for European affairs in Bulgaria.

 Methodology, Monitoring and Coordination of State Aid Division

• supports the implementation of the powers of the Minister of Finance as the national body responsible for the methodology, monitoring, coordination and assessment of measures in the field of state aid, in accordance with his competences under the State Aid Act.
• assists in the lawful granting of state aid and “de minimis” aid, their compliance with the procedures, conditions for granting of aid and transparency, including by interaction with the European Commission in the field of state aid and assessment of aid measures and notifications.
• prepares methodological guidelines for the implementation of state aid legislation and proposes measures for the development and improvement of the state aid rules, including at European level.
• supports the granting authorities by providing them with methodological assistance, carrying out a compatibility assessment of aid measures and maintaining information for the state aids and de minimis aids provided.

State Aid of Public Interest and Financial Instruments Division

• supports the implementation of the powers of the Minister of Finance in terms of methodology and assessment in the field of state aid, in particular policies of horizontal nature, as well as certain sectoral policies, strategies, programmes, projects and measures in accordance with his competences under the State Aid Act.
• contributes to the realization of the main priorities of financial support aimed at fulfilling public service obligations of general economic interest in accordance with the applicable rules of the European and national state aid legislation.
• assists in the lawful granting of state aid and “de minimis” aid by assisting aid administrators and assessing measures and notifications for their compliance with the state aid legislation.