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Bulgaria: Agricultural subsidies to exceed 1.47 billion Euro in 2018

Aid to agricultural producers in Bulgaria through direct payments, rural development program schemes and market measures is expected to exceed BGN 2.87 billion (about 1.47 billion Euro) in 2018, with BGN 2.6 billion (about 1.33 billion Euro) provided in line with the Common Agricultural Policy of the EU. This has been revealed in the updated budget forecast prepared by the Ministry of Finance for next year's draft budget.

Towards the end of the current programming period, the total funding is expected to remain more or less similar. For the year 2019, the plan is to allocate 2.95 billion Lev (about 1.51 billion Euro) and for 2020, 2.81 billion Lev (about 1.44 billion Euro).

According to the forecast of the Ministry of Finance, next year, BGN 1.551 billion (793.03 million Euro) will be allocated as direct subsidies, distributed mainly under single area payment schemes and tied support targeted at fruit and vegetable producers and the livestock sector. These funds are provided by the EU and will gradually increase in the coming years. For 2019, direct subsidies will amount to 1.554 billion Lev (794.57 million Euro), and one year later, to 1.557 billion Lev (796.1 million Euro)

The budget forecast also shows that more money will be paid next year under the Rural Development Program. In 2018, these subsidies will total BGN 1.17 billion (598.23 million Euro), the bulk of which also comes under the EU's Common Agricultural Policy, a total of BGN 967.2 million (494.53 million Euro). The rest will be provided by the national budget as co-financing.


Source: capital.bg

Publication date: 10/27/2017


 


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