Nearly 50 per cent of Bulgarian companies are optimistic about the impact of European funding on the country's economy, research of MBMD agency showed.

Almost 40 per cent of municipalities are also optimistic about European funds utilisation, investor.bg reported.

Research participants said that the main problems before European fund utilisation include heavy administrative procedures, lack of sufficient funds for project preparation and insufficient practical information.

Businesses and local authorities prefer operational programmes for human resources development, regional development and competitiveness, research showed.

Only a third of the businesses applied for European funding in March 2007 while now the percentage reached 69. Nearly 50 per cent of local authorities are also willing to apply with their own projects for European funding.

Finance Minister Plamen Oresharski said that the first quality projects submitted will have easier access to funding. Competition is expected to increase later, because the funds provided by EU will decrease, Oresharski said.