Bulgaria is expected to reach the level of innovation performance of the developed EU member states within 20 years, a new report on innovations claims.

The seventh edition of the European Innovation Scoreboard (EIS), an instrument developed at the initiative of the European Commission under the Lisbon Strategy, places Bulgaria in the group of "catching-up countries" together with Greece, Romania, Poland and Hungary.

Based on trends over recent years, it would take the catching-up countries 20 or more years to close the gap between them and EU "innovation leaders" like Sweden, Denmark, and Germany, the report reads.

The "innovation followers" in the EIS include Austria, Belgium, France, and Ireland, while "moderate innovators" are said to be the Czech Republic, Italy, and Norway.

According to the report, the innovation gap between the EU and its two main competitors, the US and Japan, has been decreasing but still remains significant with the EU staying behind its rivals.

Last week Bulgaria's PM Sergey Stanishev announced the government is to start spending more money on science and innovations, in order to catch up with the rest of the EU in the sphere.

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