T. Donchev: We have options for action if the EU reduces funding

We have various options for action if the funds within the financial framework of the EU for the period 2014 - 2020 are reduced, Tomislav Donchev, Minister of EU Funds Management assured on BNT on Thursday.

Because of the crisis, major contributors demanded a reduction of the budgetary framework. Requests vary between €100 bn and €150 bn. However, it is not clear exactly which policies will be affected by these reductions.

Initially, a year ago, the European Commission's proposal was for a common financial framework of €1.033 trln. "The cohesion package is worth €339 bn, which would mean that Bulgaria could receive more money than during the current programming period," added Tomislav Donchev.

According to Minister of EU Funds Management Tomislav Donchev, savings from the potential for growth are not appropriate during the discussion of the EU budget for up to 2020. Bulgaria's position at the European Council on November 22 will be against any reductions in funds for cohesion policies, Donchev said, adding that he hopes that EU countries will switch to "a mode of compromises."

In case no financial framework decision is reached tonight or within a few days, this will be a bad political signal that Europe is unwilling to pull itself together. Markets will react badly and, if no decision is made after this council, the start of the next programming period will be tough.

This will be bad for Bulgaria - the new operational programmes are already under preparation, Donchev explained.

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