EU Commission endorses Bulgaria's revised recovery plan

The revision is part of the June 2022 update of the allocation for subsidies under the EU's Recovery and Resilience Facility (RRF), and reflects Bulgaria's comparatively better-than-expected economic results in 2020 and 2021, the Commission said in a press release on Tuesday.

In the revised plan, Bulgaria proposed to remove, reduce or modify 22 measures.

"Bulgaria's revised plan will continue to promote the green (57.5% of the plan's allocation) and digital transition, and strengthen the country's economic and social resilience," the Commission noted.

Last year, the EU executive cut the maximum amount of RRF allocation to Bulgaria under a pre-agreed legal framework allowing for the recalculation of 30% of the total EU grant funding. Bulgaria has so far received one instalment of 1.37 billion euro, due under the EU-backed national recovery plan.

In October, Bulgaria submitted to the Commission a request for the payment of a second instalment, of 724 million euro ($762.6 million).

As a general rule, the EU Council will now have four weeks to adopt the Commission's proposal to approve the revised plan.

($ = 0.9164 euro)