The Digital Economy in Bulgaria Is Growing over Twice as Fast as in the Five Major EU Markets

Business | September 27, 2019, Friday // 12:53
Bulgaria: The Digital Economy in Bulgaria Is Growing over Twice as Fast as in the Five Major EU Markets www.pixabay.com

The digital economy in Bulgaria is growing at a fast pace amid European trends - more than 2.5 times faster than in the five major markets in the European Union. This was stated by Deputy Minister of Economy Lilia Ivanova, who participated in the Ministerial Meeting, part of the Three Seas Initiative in Warsaw. She also stressed that the average annual growth rate of value added in the ICT sector in the country over the last 10 years is over 25%.

The Economy Deputy Minister has announced that over the last few years Bulgaria has seen a 8.2% growth in the digital economy, while in the five largest EU markets, it has amounted to 3.1%, according to an annual survey by the global consultancy McKinsey.

In her speech to the Forum Lilia Ivanova pointed out that the participation of Bulgaria in the initiative provides good opportunities for realization of economic projects that are important not only nationally but also regionally. "For our country, the priority is to strengthen and promote digital connectivity in the region. Opportunities for joint projects in the field of digital communications will enhance the role of our economies at European and global level, "she said, adding that Bulgaria has every chance to transform its economy into a digital one so as to increase its competitiveness and become one of the leaders in the region.

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Tags: digital economy, growth, Bulgaria, Three Seas Initiative, EU markets
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