Untangling the maze of European Union funds to Bulgaria, Vol. 1 of 1

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Untangling the maze of European Union funds to Bulgaria

Author:	Vincelette, Gallina Andronova; Vassileva, Iglika;	Collection Title:	Policy, Research working paper ; no. WPS 3962
Country:	EU Accession Countries; Bulgaria;	Date Stored:	2006/07/11
Document Date:	2006/07/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	Europe and Central Asia
Report Number:	WPS3962	SubTopics:	Economic Theory & Research; Markets and Market Access; Gender and Law; Technology Industry; Rural Development Knowledge & Information Systems
Volume No:	1 of 1

Summary: The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper concludes that Bulgaria is likely to benefit from large net inflows of resources of an average of 3.7 percent of gross domestic product (GDP) in 2007-09. In contrast, its fiscal position is expected to deteriorate by 1.6 percent of GDP on average in 2007-09 if no expenditure restructuring of the fiscal framework is carried out. The expected deterioration of the public finances related to EU accession would be due to co-financing requirements, national contributions to the EU budget, and possible full pre-financing of the EU direct payments to Bulgarian farmers in the first year of accession. However, the above expenditures will be partly offset by the budgetary compensation allocated out of the EU budget, savings from agricultural subsidies, and shifting of certain public expenditures to Cohesion Fund-supported projects.


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