site.btaRecovery and Resilience Plan Changes Must Be Submitted by October 20, So Bulgaria Doesn't Lose Funds - Finance Minister

The changes to the Recovery and Resilience Plan must be submitted by October  15-20 at the latest in order for the European Commission (EC) to accept them and for Bulgaria not to lose funds, caretaker Minister of Finance Lyudmila Petkova said at a briefing after the Council of Ministers' meeting here on Friday.

The EC needs time, internal coordination, as does the Council, and this takes about two months, she added. Petkova explained that the proposals for changes are related to some investments that cannot be implemented within the timeframe of the plan - until August 2026. In her words, the proposals are to direct financial resources to projects that have greater national importance and can be implemented.

Two decisions have been tabled in the National Assembly. The first decision is related to the Climate Neutrality Roadmap and is regarding the second payment under the National Recovery and Resilience Plan, Petkova said.

She recalled that Bulgaria is the only EU country that has received only the first payment under the plan.

Petkova stressed that the second payment, submitted in 2023, has not been paid as it is linked to certain reforms. The roadmap is part of them. If the roadmap is not adopted, the financial corrections will amount to EUR 266 million, which is more than 30% of the second payment of EUR 653 million, she said.

Regarding the second decision, she explained that it gives a mandate to the caretaker Government to continue negotiations with the EC. Bulgaria does not have a Repower chapter and its funds are EUR 479 million. This was the idea of the National Assembly to give a mandate to the caretaker government to continue the negotiations, as well as the adoption of the Repower chapter to be a fact by the end of 2024, Petkova added.