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EuropeBulgaria’s Premier: We Will Overcome Pandemic First in EU

Bulgaria’s Premier: We Will Overcome Pandemic First in EU

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Prime Minister Boyko Borisov said that he is very optimistic about the recovery plans which are financed by the European Commission. In a commentary on the latest interim economic forecast of the European Commission, Borisov pointed out:

“We can be optimistic. And it is no coincidence that today’s forecasts are already for higher economic growth in  Bulgaria – nearly 3% for this year and up to 5% in the next. But I am convinced that, after so many people recovered from the Covid, we will be the first to come out of the pandemic. We are vaccinating at full steam!

Meanwhile, the EC published its winter economic forecast, according to which Bulgaria‘s GDP will grow by 2.7 percent this year. Weaker economic growth in the EU s forecast for only four countries – the Netherlands, Austria, Lithuania and Estonia, according to the European Commission’s ‘winter’ forecast

EUR 29 billion are allocated for our country from the European Union to patch up the damage and mitigate the consequences of the pandemic.

“That’s BGN 60 billion which will come to our country in the coming years, of which BGN 50 billion is in grants”, announced Prime Minister Borisov during a inspection of the construction and repair works on Trakia motorway.

For the first time the EU envisions for Bulgaria such a significant sum to help the country recover from the crisis caused by the pandemic. In the words of Prime Minister Borisov, this will ensure that whatever government there is after the elections the investment program of the state will not be halted.

Deputy Prime Minister Tomislav Donchev reports to the Prime Minister on our country’s progress in preparing Bulgaria‘s Recovery and Sustainability Plan. He pointed out that Bulgaria is among the countries progressing the fastest and this will make the money to be available to the business as quickly as possible. The new version of the Plan has already been published following public discussions and consultations.

“The good news is that new BGN 900 million is earmarked especially for the business in three funds, in addition to the BGN 800 million left from the first variant of the plan. We plan to make this money available as quickly as possible in Bulgaria – if possible as early as the middle of this year”, said Donchev.

The Deputy Prime Minister added that over the next five years Bulgaria will be able to double the volume of public investment in infrastructure, railways, digital connectivity, energy efficiency, but above all for direct investment in business.

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