The Parliament's subcommittee on the absorption of European Union funds will present a report on the funds absorbed by Bulgaria for the period January 1 2007 - June 8 2008.

The report will be presented at a sub-committee's session held on May 17 2008 in the Black Sea town of Kavarna, Parliament's website said.

The session happens a day after Elmar Brock, chairman of the Foreign Policy Committee of the European Parliament (EP) told Bulgarian-language Dnevnik daily that Bulgaria could lose its right to take part in European Union voting procedures because of poor management of EU funds.

Bulgaria could also lose the funds it was entitled to as an EU member Brock said.

At present the EU has halted payments to Bulgaria under its pre-accession programmes. The payments were halted as of January this year after a series of controversies involving serious conflicts of interest among high-level Bulgarian officials in charge of spending EU funds.