Bulgaria’s full Schengen accession to bring in an annual €833mn

Newswire

Sofia: Bulgaria would benefit to the tune of BGN1.63bn (€830mn) annually as a result of full accession in the Schengen border-free area, according to the Bulgarian Economic Research Institute (ERI).

Bulgaria and Romania have been accepted into Schengen but only via sea and air, while the removal of their land borders was vetoed by Austria. However, Vienna agreed last month to lift its veto. A final decision should be taken by the Council of the EU on December 12.

The two industries that would enjoy the biggest financial benefits are the producers and exporters of goods (BGN845mn annually) and cargo sector (BGN545mn).

Another positive outcome of lifting the land borders would be the elimination of direct and potential losses for Bulgarian citizens when crossing land borders with Romania and Greece to the amount of 242,437 days.

Citizens of Romania and Greece who visit Bulgaria will also benefit from joining the land Schengen with a total of 217,998 days saved. This would bring financial benefits estimated at BGN71mn for Bulgarian tourism.

A fourth benefit, according to ERI, would be related to the overall environmental effect of the extended time for crossing border controls by land. The institute has assessed that the volume of harmful CO2 emissions generated as a result of vehicles queueing at the borders of Bulgaria and Romania amounts to 46,162 tonnes per year. These carbon emissions are also expected to decrease significantly.