2.7 billion levs delivered under recovery plan
Bulgaria has officially received the first tranche of funds under the Recovery and Sustainability Plan, amounting to BGN 2.7 billion (EUR 1.37 billion). This was announced by the official Deputy Prime Minister for the management of European funds Atanas Pekanov at a press conference in the Council of Ministers .
The first tranche had been eagerly awaited after the Deputy Prime Minister confirmed on 7 November that the European Commission (EC) had approved the first payment under the plan.
Shock increase in dairy products' prices
Cheese, yellow cheese, yogurt and fresh milk have all seen a 40% price increase this year in Bulgaria, a hike being blamed on rising wages, the scarcity of milk and the increasing cost of electricity and packaging.
Cows' milk in Bulgaria has shot up by 45%. The increase in the price of dairy products is a constant talking point, yet producers claim they are operating at a loss or zero profit.
Solar systems boosted as rules ease
Bulgaria is about to unblock investments in small renewable energy projects by introducing shorter deadlines as well as simplified procedures and rules, which is great news for households and businesses.
The new approach would appear to stem not from farsightedness and a desire to stimulate energy independence in households, but rather under threat of sanctions. Reforming the sector is necessary to get payments under the Recovery Plan, whereby in addition to 878 million levs for large plants, 140 million levs will also be provided for small photovoltaics for households.