29.03.2011

Improving the business climate and public expenditure efficiency are Bulgaria\'s key economic priorities as laid down in the National Reform Programme 2011-2015 implementing the Europe 2020 strategy. The paper was presented by Deputy Finance Minister Boryana Pencheva at a discussion held at the Council of Ministers. The discussion was also attended by the Minister in charge of EU Funds Management Tomislav Donchev, representatives of the trade unions and of the employers, independent economists, experts, etc.

The national objectives implementing the Europe 2020 strategy envisage a 76 per cent employment rate by 2020 and investment of 1.5 per cent of GDP in research and development. The share of renewable energy sources in gross end consumption should reach 1.5 per cent of GDP, while energy efficiency should rise by 25 per cent by 2020. The paper also envisages that the number of people living in poverty should be reduced by 260,000 in the next decade. The share of school dropouts should be retained to 11 per cent and the share of 30-34-year-olds with higher education should reach 36 per cent in 2020.

Deputy Finance Minister Boryana Pencheva highlighted investment in road and environmental infrastructure among the priorities leading up to accelerated economic growth in the medium term. The National Reform Programme 2011-2015 reflects the recommendations of the Annual Growth Survey of the European Commission, Deputy Minister Pencheva underlined. They highlight fiscal consolidation and the policies aimed to stimulate the labour market and prioritize national reform as the key economic policy priority. Among Bulgaria\'s specific priorities are a stable financial sector, improved infrastructure, competitive youths, better business climate and enhanced confidence in government institutions.      

When the final version of the National Reform Programme 2011-2015 is elaborated and approved by the Government, it should be sent by the Ministry of Finance to the European Commission by 30 April 2011.