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Bulgaria has received over 8.5 billion euros from the cohesion funds since joining the EU

by AI | 04.Nov 2024 | Europe in brief AI

Thanks to these investments, GDP has increased from 35% to 60% of the EU average, said the head of the EC representation in Sofia.

Kresna Interchange on the Struma Motorway. Photo: Road Infrastructure Agency

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GREAT PRESLAV – Bulgaria has received over 8.5 billion euros from the cohesion funds since joining the European Union (EU) to date. This was announced by Yordanka Chobanova, head of the European Commission’s representation in Bulgaria, at the conference in Veliki Preslav, where BTA launched its new project “Europe in the Balkans: Together through Knowledge”.

Between 2021 and 2027, over 17.9 billion euros are available, added Chobanova. She pointed out that thanks to these investments in the public sector, Bulgaria’s GDP has increased from 35% to 60% of the EU average.

According to Chobanova, one of the ways that European funds can maximally improve people’s standards is through connectivity. Therefore, a large portion of funds until 2020 were directed specifically towards infrastructure, she said. Chobanova reminded that nearly 375 kilometers of new roads have been built in Bulgaria, around 1800 kilometers of roads have been repaired, 380 kilometers of railway lines have been constructed, and about 15,000 jobs have been created in small and medium enterprises.

Another way that European funds can improve people’s lives, according to her, is through investments in education. The source of wealth today is not so much the result of natural resources or geographical location, but of the knowledge and skills that transform raw materials into new high-tech goods and services with high added value, said Chobanova.

She added that competitiveness depends on the ability of countries to act beyond their national borders in order to improve their economy and conquer the world. (1.11.2024)

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