The recovery and resilience plan – a new option for financing economic infrastructure in bulgaria

Josif Avramov

pages: 13 – 20

Abstract:

The report concludes that it is expected that over the next two years a large proportion of R&D spending in the country will be allocated through the Recovery and Sustainability Plan (RSP). This plan will contribute to the economic and social recovery from the crisis caused by the COVID-19 pandemic and also to create a more sustainable, equitable and successful economy. The plan has been developed at the level of the European Commission as well as at national level for each of the 27 countries of the Union, including our country.

The LEAP foresees that 60% will be provided by European funding and 40% by national cofinancing, which will take the form of long-term loans at a highly reduced interest rate. In order to achieve these objectives, the Government has devised a number of measures and reforms to not only restore the growth potential of the economy, but also to develop and enhance it. These measures will allow in the long term to achieve the strategic objective of convergence of the Bulgarian economy and income levels with the European average. The report discusses in detail which sectors of the Bulgarian economy the financial resources of the GTP will be directed to. The author’s opinion is expressed on where it is possible to complement this GSP resource with national co-financing.

Keywords: finance resource, innovation, science, modernisation, technology

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