The 220 million euros ($285 million) denied Bulgaria by the commission's action is almost half the 500 million euros ($650 million) frozen in July, the BBC reported.

Olli Rehn, the EU enlargement commissioner, said that most of the anti-corruption measures adopted by the Bulgarian government have not yet led to action. For example, he said that investigations have been started but have not yet led to convictions.

"I regret this decision because Bulgaria is an economic success story, it's a very committed and constructive member state," he said. "But we have to play by the book and we have to respect the rules of financial management and therefore there is for the moment no other option."

Bulgaria remains one of the poorest members of the European Union and is generally listed as the most corrupt.