Untangling the Maze of European Union Funds to Bulgaria

The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper c...

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Main Authors:	Vincelette, Gallina Andronova, Vassileva, Iglika
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AGRICULTURE CENTRAL BANK COMPENSATION COMPETITIVENESS COMPONENTS DEFLATORS ECONOMIC JUSTIFICATION ENERGY PRODUCTION ENERGY SOURCES EU EXCISE TAXES EXPENDITURE EXPENDITURES FARMERS FISCAL POLICY FORECASTS GDP GDP DEFLATOR GDP PER CAPITA GROSS DOMESTIC PRODUCT INDEXATION INTEGRATION LEGISLATION LESS DEVELOPED COUNTRIES LOW TARIFFS MACROECONOMIC CONDITIONS POSITIVE EFFECTS PRICE CHANGES PRIVATE SECTOR PROGRAMMING REAL GDP REAL INCOME REBATE RURAL DEVELOPMENT STANDARD OF LIVING SUBSTITUTE SUBSTITUTION SURPLUS TAX REVENUES TELECOMMUNICATIONS TOTAL REVENUE VALUE ADDED WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2006/07/6913966/untangling-maze-european-union-funds-bulgaria http://hdl.handle.net/10986/8383

id	okr-10986-8383
recordtype	oai_dc
spelling	okr-10986-83832021-04-23T14:02:41Z Untangling the Maze of European Union Funds to Bulgaria Vincelette, Gallina Andronova Vassileva, Iglika AGRICULTURE CENTRAL BANK COMPENSATION COMPETITIVENESS COMPONENTS DEFLATORS ECONOMIC JUSTIFICATION ENERGY PRODUCTION ENERGY SOURCES EU EXCISE TAXES EXPENDITURE EXPENDITURES FARMERS FISCAL POLICY FORECASTS GDP GDP DEFLATOR GDP PER CAPITA GROSS DOMESTIC PRODUCT INDEXATION INTEGRATION LEGISLATION LESS DEVELOPED COUNTRIES LOW TARIFFS MACROECONOMIC CONDITIONS POSITIVE EFFECTS PRICE CHANGES PRIVATE SECTOR PROGRAMMING REAL GDP REAL INCOME REBATE RURAL DEVELOPMENT STANDARD OF LIVING SUBSTITUTE SUBSTITUTION SURPLUS TAX REVENUES TELECOMMUNICATIONS TOTAL REVENUE VALUE ADDED WEALTH The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper concludes that Bulgaria is likely to benefit from large net inflows of resources of an average of 3.7 percent of gross domestic product (GDP) in 2007-09. In contrast, its fiscal position is expected to deteriorate by 1.6 percent of GDP on average in 2007-09 if no expenditure restructuring of the fiscal framework is carried out. The expected deterioration of the public finances related to EU accession would be due to co-financing requirements, national contributions to the EU budget, and possible full pre-financing of the EU direct payments to Bulgarian farmers in the first year of accession. However, the above expenditures will be partly offset by the budgetary compensation allocated out of the EU budget, savings from agricultural subsidies, and shifting of certain public expenditures to Cohesion Fund-supported projects. 2012-06-18T22:18:08Z 2012-06-18T22:18:08Z 2006-07 http://documents.worldbank.org/curated/en/2006/07/6913966/untangling-maze-european-union-funds-bulgaria http://hdl.handle.net/10986/8383 English Policy Research Working Paper; No. 3962 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Europe and Central Asia Bulgaria
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AGRICULTURE CENTRAL BANK COMPENSATION COMPETITIVENESS COMPONENTS DEFLATORS ECONOMIC JUSTIFICATION ENERGY PRODUCTION ENERGY SOURCES EU EXCISE TAXES EXPENDITURE EXPENDITURES FARMERS FISCAL POLICY FORECASTS GDP GDP DEFLATOR GDP PER CAPITA GROSS DOMESTIC PRODUCT INDEXATION INTEGRATION LEGISLATION LESS DEVELOPED COUNTRIES LOW TARIFFS MACROECONOMIC CONDITIONS POSITIVE EFFECTS PRICE CHANGES PRIVATE SECTOR PROGRAMMING REAL GDP REAL INCOME REBATE RURAL DEVELOPMENT STANDARD OF LIVING SUBSTITUTE SUBSTITUTION SURPLUS TAX REVENUES TELECOMMUNICATIONS TOTAL REVENUE VALUE ADDED WEALTH
spellingShingle	AGRICULTURE CENTRAL BANK COMPENSATION COMPETITIVENESS COMPONENTS DEFLATORS ECONOMIC JUSTIFICATION ENERGY PRODUCTION ENERGY SOURCES EU EXCISE TAXES EXPENDITURE EXPENDITURES FARMERS FISCAL POLICY FORECASTS GDP GDP DEFLATOR GDP PER CAPITA GROSS DOMESTIC PRODUCT INDEXATION INTEGRATION LEGISLATION LESS DEVELOPED COUNTRIES LOW TARIFFS MACROECONOMIC CONDITIONS POSITIVE EFFECTS PRICE CHANGES PRIVATE SECTOR PROGRAMMING REAL GDP REAL INCOME REBATE RURAL DEVELOPMENT STANDARD OF LIVING SUBSTITUTE SUBSTITUTION SURPLUS TAX REVENUES TELECOMMUNICATIONS TOTAL REVENUE VALUE ADDED WEALTH Vincelette, Gallina Andronova Vassileva, Iglika Untangling the Maze of European Union Funds to Bulgaria
geographic_facet	Europe and Central Asia Bulgaria
relation	Policy Research Working Paper; No. 3962
description	The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper concludes that Bulgaria is likely to benefit from large net inflows of resources of an average of 3.7 percent of gross domestic product (GDP) in 2007-09. In contrast, its fiscal position is expected to deteriorate by 1.6 percent of GDP on average in 2007-09 if no expenditure restructuring of the fiscal framework is carried out. The expected deterioration of the public finances related to EU accession would be due to co-financing requirements, national contributions to the EU budget, and possible full pre-financing of the EU direct payments to Bulgarian farmers in the first year of accession. However, the above expenditures will be partly offset by the budgetary compensation allocated out of the EU budget, savings from agricultural subsidies, and shifting of certain public expenditures to Cohesion Fund-supported projects.
format	Publications & Research :: Policy Research Working Paper
author	Vincelette, Gallina Andronova Vassileva, Iglika
author_facet	Vincelette, Gallina Andronova Vassileva, Iglika
author_sort	Vincelette, Gallina Andronova
title	Untangling the Maze of European Union Funds to Bulgaria
title_short	Untangling the Maze of European Union Funds to Bulgaria
title_full	Untangling the Maze of European Union Funds to Bulgaria
title_fullStr	Untangling the Maze of European Union Funds to Bulgaria
title_full_unstemmed	Untangling the Maze of European Union Funds to Bulgaria
title_sort	untangling the maze of european union funds to bulgaria
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/07/6913966/untangling-maze-european-union-funds-bulgaria http://hdl.handle.net/10986/8383
_version_	1764406386411700224

Untangling the Maze of European Union Funds to Bulgaria

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