(12 Jan) Bulgaria’s Economy – What to Expect in 2022 and Beyond Presentation at Regular Meeting (+GAL)

Posted in Galleries, Guest Speakers, Meeting, News and Events. Written by Admin on January 12th, 2022

Bulgaria’s Economy – What to Expect in 2022 and Beyond was the topic for our presentation held on 12^th January 2022 during the regular meeting of Rotary Club Sofia International. We had the honor to host Mr.  Yasen Georgiev from the Economic Policy Institute, who delivered the presentation in fornt of the members and guests of the meeting attending in person and online.  

The meeting opened, as usual by the president Mrs. Hristina  Malchevska. After the introduction of the guests, a brief update of the ongoing projects of the club followed.

The special online guest for the evening was Mr. Yassen Georgiev, the Executive Director of the Economic Policy Institute, who was our presenter on the very interesting Bulgaria’s Economy – What to Expect in 2022 and Beyond topic. He is also a member of the National Advisory Board of the Diplomatic Institute and of the Public Consultations Council within the Committee on European Affairs and of the National Assembly of the Republic of Bulgaria. Since 2008 he has been the Bulgaria Coordinator of the Marshall Memorial Fellowship – a flagship leadership development program of the German Marshall Fund of the United States.

The Economic Policy Institute (EPI) is a non-governmental, politically independent and not-for-profit organization, founded in 1997. The mission of EPI is to contribute to utilizing the full potential of Bulgaria by enhancing the competitiveness of its economy and increasing the efficiency of its public institutions. In this way, EPI aims at adding value to the membership of Bulgaria in the European Union.

Major outlook in 2022 and beyond, as per the presentation of Mr. Georgiev is Bulgaria to receive substantial support from EU funds. Resources from the EU for the period till 2027 are expected to total EUR 24.1 billion or 40% of GDP in 2019.

Under the Multiannual Financial Framework, Bulgaria is expected to receive EUR 16.6 billion or 27% of 2019 GDP, with the biggest components being resources for Cohesion Policy and the Common Agricultural Policy. The European Union’s Recovery and Resilience Facility (as part of the Next Generation EU) is to provide almost EUR 6.3 billion or resources of about 10% of pre-crisis GDP. Absorption rate and absorption speed along with added value of these funds is of high importance for the economic recovery.

After the presentation the fellowship continued in an informal atmosphere.

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