Bulgaria risks losing up to 20 percent of its EU cohesion financing for the next four years, or slightly over €1 billion, because of recurring problems with the administration of the money, the European Commission has warned.
The union newcomer, which joined in 2007, is already notorious for losing a portion of its pre-accession financial aid to fraud and mismanagement which the previous Socialist-led government failed to remedy.
Its successor, led by Prime Minister Boiko Borisov,...
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