The European Commission approved 77 Million Euros in State Aid for Areas with High Unemployment in Bulgaria

EU | June 6, 2023, Tuesday // 15:11|  views

Lezli Ndreca

The European Commission has approved a Bulgarian state aid scheme in the amount of 77 million euros of state aid for investments in areas with high unemployment in Bulgaria.

Bulgaria has notified the Commission of its intention to introduce the scheme by the end of 2027. The aid will take the form of an exemption from corporate income tax to support initial investment projects of small and medium-sized enterprises, such as setting up a new enterprise, increasing the capacity of existing enterprise, product diversification or fundamental change in the production process of an existing establishment.

The scheme is aimed at municipalities in Bulgaria with an unemployment rate that is at least 25% higher than the national average.

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Tags: Commission, unemployment, Bulgaria, aid


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