Bulgaria ranks 57th in the world by innovations, according to Deputy Economy Minister Daniela Vezieva.

Speaking Wednesday at the opening of a Bulgarian-Israeli forum on innovations, she pointed out that the IT sector was among the leading spheres as regards the introduction of innovations in Bulgaria.

Vezieva made clear that the IT sector in Bulgaria was well-developed and provided over 80 000 jobs and generated 10% of the GDP.

She argued, however, that new technologies had to be introduced in other sectors too.

Bulgaria’s Deputy Economy Minister, as cited by econ.bg, highlighted Israel’s performance in the sphere, adding that innovations there had been developing fast over the past 25 years.

Vezieva stressed that state aid for the introduction of new technologies did not necessarily mean financial resources as companies benefitted from regulatory mechanisms and incentives too.

She informed that Israel allocated 6% of the GDP to innovations, adding that Bulgaria could not afford that at the current stage.

The innovations forum, organized by the Economy Ministry, the Small and Medium-Sized Enterprises Promotion Agency, and the Embassy of Israel in Bulgaria, took place in Sofia.