site.btaEU Commissioner Johannes Hahn Meets with PM Denkov, Deputy PM and Foreign Minister Gabriel

European Commissioner for Budget and Administration Johannes Hahn, met with Prime Minister Nikolay Denkov and Deputy Prime Minister and Foreign Minister Mariya Gabriel on Thursday.

Hahn said that next week, the European Commission will publish a review of the Multiannual Financial Framework of the European Union, a document that sets the upper limits of the Union's spending from 2021 to 2027. A revision proposal is also expected. However, this will not affect the funds provided for the Cohesion Fund and the Common Agricultural Policy, he added, quoted by the press centre of the Ministry of Finance. 

The mid-term review of the Multiannual Financial Framework is necessitated by the multiple crises that could not have been foreseen when it was adopted in 2020 – the consequences of the COVID-19 pandemic, the war in Ukraine and the inflation associated with these two events, the European Commissioner explained.

New financial instruments will be created and implemented, Hahn said. The EC will propose, for example, a European sovereignty fund to finance companies operating in strategic areas for the EU. The aim is to accelerate Europe's industrial and technological development in areas with high potential such as green and biotechnology, the transition to a digital economy. Also, funds from the European Regional Development Fund will used with greater flexibility.

At the meeting with Hahn, Prime Minister Denkov and Deputy Prime Minister and Foreign Minister Mariya Gabriel indicated as the main priority of the government the accession of Bulgaria to the Schengen area as easly as this year. The Prime Minister also stressed Bulgaria's efforts to meet the criteria for membership in the Eurozone.

Regarding the implementation of the National Recovery and Resilience Plan, the Bulgarian Deputy Prime Minister stated that the most urgent task for Bulgaria is to complete the implementation of the stages and goals included in the second tranche so that Bulgaria receives a second payment this year.

EU Commissioner Johannes Hahn welcomed the formation of a regular Bulgarian government with a clear European orientation and promised support from the EC.