European Commission Approves Transfer of €90 Million to Bulgaria for Rural Development

The European Commission has approved the transfer of €90 million unused by Bulgaria from the previous financial period under the Program for the Development of Rural Areas to be used in the current one. This was announced by the Minister of Agriculture, Georgi Tahov, who participated in the “Agriculture and Fisheries” Council in Brussels.

These funds were at risk of loss, but Bulgaria managed to convince the European Commission to use the money during the period of the current program, thereby saving them. This results in over €90 million for Bulgarian agriculture, which will go through investment support schemes, allowing for increased budgets and new inflows under different schemes and sub-measures.

Investment Support Schemes and Crisis Reserve

The €90 million comes from the European Fund for the Development of Rural Areas. Additionally, due to unfavorable weather in August, Bulgaria asked to open the agricultural crisis reserve. A serious analysis of the loss of liquidity of farmers was conducted, and as a result, Bulgaria will receive almost €11 million from the EC, accompanied by 200% national co-financing, totaling over BGN 60 million.

Egg Import Restrictions

Over 2.6 million tonnes of eggs were imported from Ukraine during the first 6 months, which is 5 times more than in the same period last year. This large amount, sold at below market prices, has led to great tension in the poultry sector, resulting in many bankruptcies in Bulgarian poultry farms. Bulgaria insists on banning egg imports until the market is regulated and has the support of Romania for this measure.

Despite the significant increase in egg imports, the Bulgarian consumer has not felt a drastic drop in egg prices in stores, where 1 egg is sold for 50 cents on average.