Bulgaria submits 6.6 bln euro recovery plan with European Commission

Bulgaria submits 6.6 bln euro recovery plan with European Commission

Bulgaria will submit on Friday with the European Commission its recovery and resilience plan worth 12.9 billion levs ($7.7 billion/6.6 billion euro), which lays the groundwork for the green and digital transformation of the country's economy in the context of the EU's Green Deal goals, caretaker prime minister Stefan Yanev said.

The plan comprises 59 investment projects and 46 reforms, which will give Bulgaria's economy, industry and business an impetus for development towards a highly productive economy creating value added products, the government office quoted Yanev as saying.

The plan prioritises the decarbonisation of the economy, increased financial support for the businesses, and investments in the social sphere, Yanev also said.

Bulgaria's caretaker government approved the final version of the country's recovery and resilience plan on Thursday.

The plan is expected to mobilise an additional 8.1 billion levs and new investments by 2026, the government office quoted Atanas Pekanov, deputy prime minister for EU funds management, as saying on Thursday.

The Commission is now expected to assess the plan within the next two months.

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