29.07.2013

"One of the key issues we should address in the allocation of the EU funds when formulating these major directions and priorities is how to increase the potential growth without which we cannot expect to achieve great results concerning the process of convergence", said Minister of Finance Petar Chobanov at a discussion on the topic "EU Money and Bulgaria's Prosperity - between Pessimism and Optimism" which was held at the European College of Economics and Management. The Minister of Finance added that we should focus not only on fund absorption as an amount of money but on where and how these funds enter Bulgarian economy. The following programming period poses new challenges for our country, such as the fulfillment of the prior conditions, Minister Chobanov pointed out. He added that an analysis had to be made of what else should be done for implementation thereof to avoid impeding the process of fund absorption.

According to Mr. Chobanov, the philosophy of the next programming period was somewhat different for it was more and more often spoken about a process of co-investing rather than co-financing. The Minister added that the Bulgarian Development Bank could also have a more prominent presence during this programming period and could participate more actively in this process. Among the priorities he mentioned is the establishment of a more stable business environment, which we haven't had so far, more and better jobs, a competitive economy based on innovation, environmental protection and better efficiency. Minister Chobanov also commented on the measures aimed at tackling youth unemployment where draft laws had already been submitted to parliament in order to support the rapid implementation of the programme.