site.btaDeputy PM Pekanov to Present Information on Fourth Recovery Plan Payment

Deputy Prime Minister Atanas Pekanov will present information on the fourth payment under Bulgaria’s Recovery and Resilience Plan during a briefing at the Council of Ministers, the Government said on Friday.

On June 16, Deputy Finance Minister Lyudmila Petkova said that Bulgaria’s fiscal reserve had decreased by EUR 2.4 billion since the beginning of the year.

According to Petkova, payments under projects financed through the Recovery and Resilience Plan are expected to reach EUR 3.1 billion by the end of August. Bulgaria is due to receive a fourth payment of EUR 1 billion from the European Commission at the end of July, while the fifth payment is expected only at the end of the year.

As all investments under the Recovery and Resilience Plan must be paid out by the end of August, a funding gap of EUR 2.1 billion has emerged, she added.