THE ROLE OF EUROPEAN FUNDS FOR SUSTAINABLE REGIONAL DEVELOPMENT

Ognyana Stoichkova

Abstract


After its formal accession to the European Union (EU) on January 1, 2007, Bulgaria gained access to a significant amount of financial resources under the Structural and Cohesion Funds and the instruments in the field of agriculture and fisheries. The country was able to use these funds to overcome its significant backlog in terms of overall economic development, infrastructure and living standards. EU assistance has become particularly important in times of economic crisis, reflecting heavily constrained public and private investment, where EU funds have been a major source of investment in the economy, as well as job creation and conservation.

The main objective of this report is to assess the effects of the funding received from the European Structural and Investment Funds at the macro level and by region in the country.


Keywords


European funds; sustainable development; Structural and Cohesional funds; macroeconomic effects

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References


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