IT Sector with Increasing Contribution to Bulgaria's Economy and GDP Growth

Business | May 29, 2019, Wednesday // 14:33
Bulgaria: IT Sector with Increasing Contribution to Bulgaria's Economy and GDP Growth

In recent years, the ICT sector has reported positive trends and is one of the fastest growing economies in the country. According to Eurostat, the gross added value of the ICT sector is worth EUR 1.43 billion and increases by 25%. That was stated by the Deputy Minister of Economy Lachezar Borissov at the Bulgarian ICT Watch Round Table, organised for the eighth consecutive year by ICT Media and BASSCOM with the assistance of the Ministry of Economy.

According to him, Bulgaria is among the EU member states, where the share of ICT in the formation of the gross added value is relatively higher, ranking the country 5th in the EU. In this regard, he added that in the first quarter of 2019, the turnover index for ICT services reached 154% on the basis of 2015 and the turnover of enterprises increased by 16% compared to the same quarter of the previous year. The economic deputy minister also pointed out that there are over 57 thousand employees in the branch, which makes the IT industry a determining one for the Bulgarian economy.

Lachezar Borisov expressed his opinion that the ICT sector is developing without state intervention, but that the Ministry of Economy has tools to support its development. In support, he pointed out that for the period 2008-2019, 42 projects in high-tech services received certificates under the Investment Promotion Act (LEP). Deputy Minister Borisov expressed his willingness to meet with the business and discuss their proposals for more effective cooperation and the identification of measures by which the state would benefit the sector. According to him, Sofia is ready to be the capital of the IT sector in Europe.

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: it sector, GDP growth, contribution
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
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