NEWS

President Iliana Iotova Discussed EU's Next Multiannual Budget with Members of the European Court of Auditors

President Iliana Iotova discussed the European Union’s multiannual financial framework for the period 2028–2034 with members of the European Court of Auditors. At the meeting, members of the European audit institution briefed the head of state on the key points of the 12 opinions on the proposed EU budget as a whole, as well as on the sectoral policies contained therein.

The President highlighted the new philosophy of funding for member states, as set out in the European Commission’s proposed long-term budget, while expressing her reservations about it and the instruments for its implementation. The discussion focused on the risks posed by the new funding models, particularly for less developed member states. Iotova expressed concern about the plan to merge the Cohesion Policy and the Common Agricultural Policy, along with fisheries and security, into a single fund.

The head of state raised the issue of ensuring transparency and accountability in the use of financial resources, as well as how to avoid bias in the European Commission’s assessment of national plans. Iotova expressed concern that the new approach would be detrimental to smaller countries in the European Union. The President also emphasised linking funds from the European budget to the rule of law, highlighting the need for a clear set of rules for the European Commission to follow.

Iliana Iotova also raised the issue of municipal funding, which is crucial for countries like Bulgaria. The conversation also addressed the danger of weakening the regions, given that their development is at the very foundation of the European Union treaties.