Cohesion Policy in the European Union and Its Impact on the Regulatory Framework in Bulgaria

The cohesion policy in the European Union aims to reduce regional disparities and stimulate economic development through the application of various financial instruments. The synchronization of national legal regulations with the European regulatory framework necessitates the amendment and supplementation of applicable and existing legal acts specifically related to the management of funds from European funds under shared management. This article presents the cohesion policy of the European Union and the impact of its implementation on regional policy in Bulgaria. The study pays special attention to the application of the regulatory framework regarding the “cohesion policy” in the context of implementing local self-government and local administration. Following Bulgaria‘s accession to the European Union in 2007, the country has utilized the European Union‘s structural funds to reduce regional disparities, enhance economic growth, and promote sustainable development. This research evaluates the effectiveness of these policies, their role in the regional transformation of Bulgaria, and the latest challenges and future prospects.