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(R-L) Bulgarian EU Funds Minister Tomislav Donchev and Deputy Finance Minister Boryana Pencheva at the presentation of "National Program for Reforms 2015". Photo by BGNES
Bulgaria's Finance Ministry has unveiled a "National Program for Reforms 2015" designed to boost economic and labor competitiveness with a variety of measures within EU's "Europe 2020" strategy.
The National Reform Program was presented Monday by Deputy Finance Minister Boryana Pencheva at a public discussion at the Council of Ministers in Sofia, including EU Funds Minister Tomislav Donchev as well as employers' associations, syndicates, and independent economists.
The Reform Program specifies Bulgaria's major goals within the application of the Europe 2020, including reaching a 76% employment by 2020, and spending on research and development amounting to 1.5% of the GDP.
While the goal for the entire EU is 2.8%, Bulgaria's lower goal has been based on the fact that its current R&D spending is much smaller than the EU average.
By 2020, Bulgaria's energy efficiency is supposed to increase by 25%, while the renewable energy sources as calculated in the end consumption of energy are supposed to reach 1.5% of the GDP.
In the next 10 years, the government plans to lift 260 000 Bulgarians out of poverty, to reduce the number of school dropouts by 11%, and see 36% of the Bulgarians aged 30-34 with university education.
Deputy Finance Minister Boryana Pencheva has stressed investments in road and environmental infrastructure as Bulgaria's priorities, which are supposed to lead to accelerated economic growth in the medium run.
Pencheva said Bulgaria's National Program for Reforms 2015 incorporated recommendations of the European Commission in its annual economic growth review, which focus on fiscal consolidartion and policies for stimulating the labor market and national reforms.
She pointed out that Bulgaria's specific priorities provide for a stable financial sector, improving infrastructure, boosting youth competitiveness, betting the business environment, and generating more trust for state institutions.
Bulgaria's Finance Ministry is supposed to submit the final version of the National Reform Program to the European Commission by April 30, 2011, once it has been approved by the Cabinet.
According to the National Statistical Institute, the total number of economically inactive individuals in Bulgaria, aged 15 to 64, exceeds 1 million
The practice of hiring workers without formal employment contracts remains a widespread violation of labor and social security laws in Bulgaria
A recent survey within Bulgaria's financial sector reveals a growing concern among businesses regarding employment levels
The Bulgarian Employment Agency provides services tailored to a wide range of clients, including employers and job seekers.
In October, the registered unemployment rate in Bulgaria remained steady at 5.2%, according to the Employment Agency.
The latest market survey from the Employment Agency indicates a persistent high demand for labor in Bulgaria, both in the short and long term
Bulgaria has successfully met the price stability criterion required for entry into the eurozone
Bulgaria is in a very strong initial position to join the eurozone
Finance Minister Temenuzhka Petkova has stated that Bulgaria is ready to join the eurozone
The international rating agency Fitch has reaffirmed Bulgaria’s long-term credit rating at 'BBB' with a positive outlook
A recent large-scale online survey conducted by Tavex, involving thousands of participants engaged in gold and currency trading, has revealed that every second Bulgarian is against the country adopting the euro
The Bulgarian National Bank (BNB) predicts a significant decrease in the number of leva banknotes in circulation in the coming months
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