Bulgaria can hardly be said to have an economy oriented toward new technology, given the meager resources allocated to research and development (R&D).

Statistics cited by business news portal shows that Bulgaria's gross domestic expenditure on R&D (GERD) amounted to only 0.6% of the GDP in 2010, over three times less than the average 2% in EU Member States.

Only Cyprus and Romania of all EU countries have lower R&D spending, at 0.5% and 0.47%, respectively, which is a negative signal for Bulgaria's progress in the sphere of technology.

However, a positive trend was registered in the period 2007-2010, when Bulgaria's R&D spending increased from 0.45% in 2007 to 0.47% in 2008 and 0.53% in 2010.

In 2000, Bulgaria spent 0.51% of GDP on research and development.

Meanwhile, the EU increased R&D spending by 43.5% from 2000 to a level of EUR 245.67 B.

On a positive note, research and development spending by the private sector in Bulgaria went up from 0.1% of the GDP in 2005 to 0.3% of the GDP in 2010.

At the same time, R&D spending by the government decreased from 0.31% of the GDP in 2005 to 0.22% of the GDP in 2010.

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