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Agricultural subsidies in Bulgaria to exceed 1.47 billion euros in 2018

Staff Writer |
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 million euros) in 2018.

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BGN 2.6 billion (about 1.33 million euros) is to be 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 million euros) and for 2020, 2.81 billion Lev (about 1.44 million euros).

According to the forecast of the Ministry of Finance, next year, BGN 1.551 billion (793.03 million euros) 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 euros), and one year later, to 1.557 billion Lev (796.1 million euros)

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 euros), the bulk of which also comes under the EU's Common Agricultural Policy, a total of BGN 967.2 million (494.53 million euros).

The rest will be provided by the national budget as co-financing.

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