Bulgaria to Double Innovations Spending in 2015

Bulgaria is to spend 937.9 mil levs on innovations in 2015, including public spending and the expenses of the business sector.

The sum is nearly double the amount earmarked in 2011, when the expenses for research and development amounted to 429.6 mil levs.

The doubling of investments in the sphere is included in the last version of the Innovation Strategy for Intelligent Specialization 2014-2020, which is used to determine the distribution of EU funding under the program "Innovations and Competitiveness" in the 2014-2020 programming period, according to reports of Trud daily.

In 2015, Bulgaria's public spending on innovations is to amount to a total of 525.6 mil levs, including 275 mil levs through EU funds and 197 mil levs from the state budget and 53.6 mil levs from universities.