site.btaQuarter of GDP Generated by Industry, Meaning that Economy Develops - Minister

Quarter of GDP Generated by Industry, Meaning that Economy Develops - Minister

Sofia, April 25 (BTA) - Addressing a national discussion about the economy on Monday, Economy Minister Bozhidar Loukarski said that for the first time in many years, a quarter of the Gross Domestic Product is generated by the industry, which he argued shows the presence of economic development and that the EU funding is not the key factor driving the economy. Loukarski said also that more than 23 per cent of the GDP is due to investments. The Minister said that for the first time since 2009 investments reach the record-high figure of nearly 1,600 million euro which proves that the direction is right. However, stability and continuation of reforms are the keywords.

Loukarski also said that talks are being heard about large-scale investments by Bulgarian businesses in 2016. He quoted Eurostat data according to which in 2016 Bulgaria is ranked on the top place in Central and Eastern Europe in terms of investment as a share of the GDP.

Loukarski commented legislative initiatives to make economic incentives more flexible. Another keyword for 2016 is innovation, the Minister said, noting the adoption of the Strategy for Smart Specialization which outlines the sectors with high added value.