Bulgaria to Back Lending to SMEs with EUR 102 M in EU Funds by 2020

Business | June 23, 2016, Thursday // 20:23
Bulgaria: Bulgaria to Back Lending to SMEs with EUR 102 M in EU Funds by 2020 Photo source: mi.government.bg

Bulgaria is the third country in the EU which has secured resources for lending to small and medium-sized enterprises (SMEs) under the European Regional Development FundDeputy Economy Minister Daniela Vezieva has said.

"This has been done through the approved Operational Programme Initiative for SMEs", which will provide Bulgaria with access to a budget of EUR 102 M by 2020, through which lending to SMEs will be stimulated," Vezieva has said at the opening of Balkan SME Conference in Sofia on Thursday.

Bulgaria maintains macroeconomic and financial stability and expects its economic growth to accelerate in 2016, driven by exports and domestic consumption, Vezieva has said, according to a statement issued by the Economy Ministry.

Vezieva also said that the government expected exports to remain the main growth engine in Bulgaria this year – just like in 2015, when exports contributed most to the growth of Gross Domestic Product.

According to recent statistical data, domestic consumption was on the rise as well and its share in GDP growth is likely to increase as well, Vezieva added,

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: Bulgaria, Vezieva, growth, SMEs, funding,  Balkan SME Conference

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria