The Ministry of Finance launches a project to improve the efficiency and quality of public investments in Bulgaria
The Ministry of Finance has launched project 25BG11 "Improving the efficiency and quality of public investments in Bulgaria". The main objectives of the project are to introduce a standardized framework for the evaluation of investment projects through a secondary legislation, to implement a unified methodology for assessment, prioritization, selection, to improve the decision-making process for financing public investments in the Ministry of Finance and interested institutions, to increase the capacity for their planning, management and implementation, as well as to promote transparency and accountability in their implementation.
"The project is a natural continuation of Bulgaria's efforts to modernize public investment management, guided by internationally recognized standards and good practices. This reform is particularly important in the context of the country's strategic priorities for membership in the euro area and accession to the OECD. Compliance with fiscal discipline and the implementation of internationally recognized standards for public investment management are essential prerequisites for the full implementation of these national priorities," said Deputy Minister of Finance Kiril Ananiev during the project kick-off meeting. He added that the commitment to the reform has been confirmed at the highest management level through its inclusion in the National Medium-Term Fiscal and Structural Plan for the period 2025-2028 as a long-term priority of state policy. In his words, the institutionalization of the reform within the Plan guarantees its consistent implementation, ensures its integration into the general system of fiscal planning, and creates prerequisites for a closer linking of budgetary resources with the results of the implemented policies. Ananiev also shared that the Ministry of Finance has established contacts at the highest level with the Ministries of Finance of Croatia and Slovenia to exchange experience within the project, and they have expressed their willingness to present their recently reformed public investment management system and national project evaluation methodology.
"The value of public investments is not determined only by the amount of funds invested, but also by the results they bring to society. Therefore, their effectiveness must be guaranteed at the earliest stage - through reliable data, objective criteria and transparent procedures. This is precisely where we see the true value of the project and the reform - building a sustainable legal and methodological framework that covers the entire investment cycle: from realistic planning and prioritization , through quality implementation, to regular monitoring and subsequent impact assessment," added Deputy Minister Ananiev.
The opening event was attended by representatives of the Organization for Economic Cooperation and Development (OECD), the European Commission (EC), and the leadership of line-ministries and institutions.
The beneficiary of the project is the Ministry of Finance, and its manager is the Directorate "Strategic Planning and Management of Capital Investments, State Participation and Concessions" at the Ministry of Finance. The financing is provided through the EC Technical Support Instrument and is implemented with the expert cooperation of the OECD. The expected duration of the project is 18 months.