Bulgaria Fails to Absorb 51 Mln Euro in EU Funds under Rural Development Programme

Bulgaria Fails to Absorb 51 Mln Euro in EU Funds under Rural Development Programme

Bulgaria has failed will absorb 51 million euro ($67.6 million) under the EU-funded operational programme Rural Development, the country's deputy agriculture minister said.

Deputy agriculture minister Svetlana Boyanova attributed the poor utilization of funding under the programme to a two-year delay in its launch and low interest on the part of local farmers, the Bulgarian National Television reported.

Bulgaria absorbed 381 million euro for rural development projects out of the total 432 million euro budget, the Bulgarian National Radio reported, quoting the State Fund Agriculture's executive director, Rumen Porozhanov.

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