The EU Cohesion Policy's Impact on Regional Economic Development: The Case of Bulgaria

The EU cohesion policy has been a major driver of change in the Member States, leading to positive effects as growth in employment, economic development and modern infrastructure. Since its EU accession in 2007, Bulgaria has been benefiting from the Union's investment and structural funds at an increasing speed. Research shows that not only these funds contribute significantly to the Bulgarian economy, but they seem to be its major driver. Without them, the country would have recorded a zero growth in the EU's financial framework 2007-2013, and could be dumped in an economic and social crisis. This paper explores the informational sources that assess the influence of the EU cohesion policy and its effects on Bulgaria. The goal of the paper is to make objective conclusions about the impact of the EU cohesion policy on the Bulgarian economy and how it has affected the level of economic and social cohesion between the country's regions and the most advanced EU regions. For that purpose, the method of comparative analysis is applied, as well as a historical analysis.