Expenditure on Research, Development in 2013 up 5 Per Cent Year on Year

Expenditure on Research, Development in 2013 up 5 Per Cent Year on Year

In 2013, the total amount of expenditure on research and development activity (R&D) was 521.2 million levs, which was 5.0 per cent more than the previous year, preliminary data of the National Statistical Institute released Wednesday show.
R&D intensity (R&D expenditure as a per cent of GDP) is one of the key indicators for measuring the progress of the European Union (EU) in achieving the targets of the new Europe 2020 strategy - a strategy for smart, sustainable and inclusive growth. Bulgaria's national objective is to reach 1.5 per cent R&D intensity in 2020, the report says.
In 2013 R&D intensity in Bulgaria increased in comparison to the previous year from 0.64 per cent in 2012 to 0.67 per cent in 2013, but it was still significantly below the average value of this indicator for the EU-27 (2.08 per cent in 2012).
Nearly all of the growth in absolute value of the total R&D expenditure in 2013 compared to the previous year was due to the business enterprise sector where expenditure on R&D increased by 17.9 million levs or 6.0 per cent.

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