Concerns Over Slow Implementation of EU Recovery Plan

73
1
Concerns Over Slow Implementation of EU Recovery Plan

A Slow Start

Bulgaria's progress on its Recovery and Resilience Plan (RRP) has been significantly slower than expected, according to a 2024 report by Brussels. The country's RRP, worth 5.689 billion euros in grants, has only received one payment of 1.37 billion euros so far. This delay is preventing Bulgaria from accessing the remaining funds.

The report highlights several challenges hindering the plan's implementation. Bulgaria has only met 22 out of 321 targets, and the deadline for completing the RRP is August 2026. One key recommendation from the European Commission is to improve the business environment. Currently, 53% of investors in Bulgaria lack confidence in the legal and judicial system's ability to protect their investments.

Additionally, Bulgaria faces difficulties in decarbonizing its economy and energy production. The delayed liberalization of the electricity market, according to Brussels, is hindering the transition to clean and affordable energy. Addressing these challenges is crucial for Bulgaria to fully utilize the RRP and achieve its economic recovery goals.