site.btaDeputy Agriculture Minister: Euro Introduction Will Not Affect EU Programme Funding in Agriculture

At the opening of a meeting of the National Information Campaign for the Introduction of the euro here on Friday, Deputy Agriculture and Food Minister Lozana Vasileva said that the adoption of the single European currency in Bulgaria will by no means affect the financial resources available to applicants and beneficiaries of the EU programmes in the agriculture sector.

Vasileva explained that the budgets of the two key instruments: the CAP Strategic Plan for Agriculture and Rural Development 2023-2027 and the Maritime Affairs and Fisheries Programme (MAFP) 2021-2027, have been planned in euro terms right from the outset. "The programming, reporting and communication with the European Commission on these instruments has so far been carried out in euro terms, too," the Deputy Minister said, adding that the funds under the Strategic Plan will be kept at their full amount of EUR 8 billion, whereas the MAFP will continue to function with the estimated 100% funds regardless of the currency changeover. 

"The transition to the single European currency will not require signing any annexes or modifying contracts that have already been concluded, and the legal and financial continuity will be fully guaranteed," Vasileva stressed further, explaining that after January 1, 2026 all beneficiaries will apply, implement and report their projects to the administration entirely in euro terms. "Our systems will be completely adapted so as to ensure a smooth, effective and red-tape-free transition for applicants," the Deputy Minister emphasized.

Winding up her remarks, Vasileva said that Bulgaria's eurozone entry will open up new opportunities to business operators in agriculture, fisheries and aquaculture and will optimize administration process for more effective implementation of the EU programmes.