EC approves €77 million in state aid for areas of high unemployment in Bulgaria

The European Commission has approved a €77 million in state aid for investments in areas of high unemployment in Bulgaria.

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

The scheme targets municipalities in Bulgaria with unemployment rates that are at least 25% higher than the national average.