National Recovery and Resilience Plan of Bulgaria
On April 7, 2022, the European Commission has adopted a positive assessment of Bulgaria's recovery and resilience plan. This is a key step paving the way for the EU to disburse €6.3 billion in grants under the Recovery and Resilience Facility (RRF). This financing will support the implementation of the crucial investment and reform measures outlined in Bulgaria's recovery and resilience plan.
The main goal of the Recovery and Sustainability Plan is to facilitate economic and social recovery from the crisis caused by the COVID-19 pandemic. In pursuit of this goal, a set of measures and reforms are grouped that will make a significant contribution to restoring the potential for economic growth and developing it, ensuring the resilience to negative externalities. This will allow in the long run to achieve the strategic goal of convergence of the economy and incomes to the Central European ones. At the same time, the Plan lays the foundations for a green and digital transformation of the economy, in the context of the ambitious goals of the Green Deal.
The final version of the April 2022 plan contains 57 investment projects and 48 reforms in four main pillars:
– Innovative Bulgaria – aiming at increasing the competitiveness of the economy and its transformation into an economy based on knowledge and smart growth - 25,3%% of the resources under the Plan;
– Green Bulgaria – with a focus on sustainable management of natural resources, allowing to meet the current needs of the economy and society, while maintaining environmental sustainability, so that these needs can continue to be met in the long run - 41,9% of the resources under the Plan;
– Connected Bulgaria – focusing on providing prerequisites for increasing the competitiveness and sustainable development of the country’s regions, such as improving transport and digital connectivity, as well as promoting local development, based on the specific local potential - 18,3% of the resources under the Plan;
– Fair Bulgaria – with a special focus on disadvantaged groups and individuals to achieve a more inclusive and sustainable growth and shared prosperity for all, as well as with an emphasis on building effective and responsible public institutions responsive to the needs of business and the needs of the citizens - 14,6% of the resources under the Plan.
The total amount of the investments included in the Plan is BGN 21 billion, of which BGN 13 billion will be provided under the Recovery and Resilience Facility.