Deputy Economy Minister Predicts 90% Absorption Rate under Innovations&Competitiveness OP

Bulgaria in EU | May 14, 2015, Thursday // 13:43|  views

Bulgaria's Deputy Economy Minister Daniela Vezieva, photo by BGNES

Bulgaria’s Deputy Economy Minister Daniela Vezieva has predicted that the absorption rate under the Innovations and Competitiveness operational program could reach up to 90% due to the great interest in it.

Vezieva attended a working meeting in Varna on the first procedure opened under the program aimed at boosting the production capacity of small and medium-sized enterprises (SMEs) in Bulgaria.

She made clear that the projects under the procedure for SMEs would be evaluated mainly on the basis of the anticipated results, adding that the schemes were expected to have a long-term impact and to create lasting jobs.

Vezieva, as cited by the Bulgarian Telegraph Agency, noted that the candidates were facing reasonable requirements and that she expected a lot of projects to be granted funding under the program.

Bulgaria’s Deputy Economy Minister announced that the 2% GDP growth for the first quarter of 2015 was mainly attributable to the IT sector.

She claimed that the manufacturing industry and the production of car parts were improving.

Vezieva explained that the new operational program was to help the IT sector enter other sectors of the economy in order to boost their development.

She said that the creation of an electronic register of elevators in Bulgaria was to be wrapped up by October, adding that the biggest obstacle to the step was the lack of sufficient information for some of the facilities.


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Tags: Deputy Economy Minister, innovations and competitiveness, operational program, EU funding, small and medium-sized enterprises, SMEs


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