site.btaDeputy PM Kroumova: No Risk that Two-Speed Europe Scenario Can Stop or Delay EU Funding

Deputy PM Kroumova: No Risk that Two-Speed Europe Scenario Can Stop or Delay EU Funding

Sofia, March 11 (BTA) - Deputy Prime Minister Malina Kroumova, who is responsible for EU funds, said there was no real risk that EU funding could be cut off or delayed during the 2014-2020 programming period due to the two-speed Europe scenario.

Kroumova talked to journalists after the opening of the Sofia Innovation Camp 2017 initiative at the Lozenets Residence in Sofia.

She added that the current financial framework was set with the approval of the Multi-Annual Financial Framework until 2022. "We cannot say funds will stop coming in due to the discussion, but the ongoing debate is of the utmost importance for Europe's development and for Bulgaria's future," said Kroumova. This debate should be held at both national and European level "to decide where we are, what we want to do, what our vision for development is, and what we want to become," she said.

Two- or multi-speed Europe is one of the possible scenarios, but it would not provide the right direction for the EU's development as a strong actor on the global stage, according to Kroumova.

She also commented that if Bulgaria decided not to participate in the debate, it risked being relegated to the periphery in a multi-speed Europe. "This is just a risk, it all depends on us," she added.

The discussion has only just begun and the European leaders' visions may become known in greater detail at the year's end. Bulgaria's position will be formulated with the participation of the public, the business community, the social partners and the institutions, she said.

Opening Sofia Innovation Camp 2017, Kroumova listed Bulgaria's strengths: low taxes, low production costs, low startup costs, good return on investment, and exports growing at a higher rate than the world average. She added that Bulgaria had become one of Europe's top five destinations for innovation and startup initiatives.

The Deputy Prime Minister also noted Bulgaria's weaknesses: low labour productivity, a low innovation rate of companies, energy-intensive production, a skilled labour shortage, and lack of working capital.

The forum is attended by international experts looking for innovative approaches to support for business and the public sector.