Government Budget Allocations for R&D Decreased by 11.8% in 2016 Compared to 2015

Business » FINANCE | June 30, 2017, Friday // 11:55| Views: | Comments: 0
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Bulgaria: Government Budget Allocations for R&D Decreased by 11.8% in 2016 Compared to 2015 pixabay.com

In 2016, the government budget allocations for R&D (Research and Development) amounted to BGN 187.5M and decreased by 11.8% compared to 2015. The share of government budget allocations for R&D from gross domestic product (GDP) is also decreasing, according to the data of NSI.  In 2016, they represent 0.2% of GDP, at 0.24% in 2015. The average value of this indicator for the European Union (EU-28) is 0.65% in 2015.

The structure of government budget allocations for R&D by socio-economic objectives varied slightly from the previous 2015. The largest share (47.2%) of state support for research aimed at ‘General advancement of knowledge’, which mainly includes the research realized by the Bulgarian Academy of Sciences and by universities. This socio-economic objective is essential too for the European Union in 2015, with a share of 51.7%.  

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