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EU budget commissioner Serafin discusses 2028-2034 budget with Bulgarian leaders in Sofia

2 min read

Row of European Union flags in front of a modern government building on a clear autumn day Politics
Row of European Union flags in front of a modern government building on a clear autumn day

Piotr Serafin met Prime Minister Rumen Radev and Finance Minister Galab Donev, who stressed cohesion and farm funding and warned against extra burdens on national budgets.

European Commissioner for Budget, Anti-Fraud and Public Administration Piotr Serafin began a two-day visit to Bulgaria on Thursday 29 October as part of a tour of member states to consult them on the EU's next long-term budget, the Multiannual Financial Framework (MFF) for 2028-2034, BTA reported.

Serafin met Prime Minister Rumen Radev, with Deputy Prime Minister and Finance Minister Galab Donev and Deputy Prime Minister Atanas Pekanov, who oversees EU funds, also present. Radev said Bulgaria was working to reduce its budget deficit by 2027 while taking into account the social and economic effects. The scale of new EU own resources paid by member states directly affects national budgets and must be considered in the negotiations, he said, calling for a thorough assessment of the proposals' impact on countries such as Bulgaria that are under an excessive deficit procedure. Keeping cohesion policy and the Common Agricultural Policy strong remains a priority for Bulgaria, he added.

In a separate meeting focused on the revenue side, Donev said Europe should not scale back its ambitions. Bulgaria was seeking agreement on suitable sources of revenue for the EU budget while avoiding additional burdens on national budgets, he said, and reaffirmed the country's commitment to a timely agreement on an ambitious, fair and balanced budget.

Opening a conference in Sofia, Serafin said increased defence investment must be reflected in the next budget if the EU is to safeguard peace and security on its borders. He said cohesion and agriculture were not being sidelined. The proposed budget equals 1.02% of the EU's gross national income, compared with 1.13% for the budget adopted in 2020, which was supplemented by €700 billion under NextGenerationEU. Serafin said he hoped for consensus on the MFF by the end of the year, and that compromises would be needed.

Pekanov said the EU needed a larger, more ambitious budget for its new priorities, with competitiveness now having an EU dimension aimed at helping European companies scale up. Serafin's programme on Friday included the National STEM Centre at Sofia Tech Park and the laboratory of satellite maker EnduroSat, which has received EU funding through the European Innovation Council.

For Bulgaria, which relies heavily on EU cohesion and farm funds, the size and structure of the next budget will shape public investment well into the 2030s.

Sources