Deputy Minister of Economy: Bulgaria is Fifth in EU in Terms of Exports Growth

Bulgaria is fifth in Europe in terms of growth rate of exports. Economic growth will surpass 4%, which is twice the EU average. There is an increased export and serious interest for investments in Bulgaria, Deputy Minister of Economy Alexander Manolev told BNT breakfast programme “The Day Begins”on 27^th of November. According to him, Bulgaria has all the signs of growth in the economy and hopes this would have an impact on raising people's incomes.

Manolev noted that from the EU countries, Bulgaria has the largest exports to Germany and in particular to the province of Bavaria, while from the non-EU countries, Turkey remains the largest trading partner.

He said that growth was serious with all European markets, mainly because the European economy is developing better than expected.

Bulgaria also marks an increase in value added in production. According to Manolev's explanation, this growth means that Bulgarian companies have become more efficient and with the same resource have produced a product of greater value. He added that the growth in this regard was remarkable.

Manolev noted that under the Operational Programme "Innovation and Competitiveness", BGN 2.4 billion was allocated for the Bulgarian business. The implementation of the programme has reached 65%. According to his calculations, a daily payment of BGN 500,000 per day is covered by the programme. It includes financial support to increase company digitization, energy efficiency, equipment. Startup companies can also apply under the programme.

Manolev said that reducing the administrative burden is important for the people and for the business and investors.

He noted that savings in indirect costs such as time and human energy remain important, and the reduction of administrative burdens can lead to this.