site.btaPresident Asks World Bank to Help Promote High-Value-Added Sectors

Sofia, December 8 (BTA) - Meeting with World Bank officials on Thursday evening, President Rumen Radev asked for expert support for Bulgaria's efforts to transform its economy so that its growth can be driven by high-value-added sectors, the President's press secretariat reported.

Radev noted that the worsening demographic problems in Bulgaria and the energy intensiveness of the national economy call for a radical change which will lead the country to develop those economic sectors that use high expertise and high technology.

He said: "Over the last few years Bulgaria has invariably recorded steady macroeconomic indices such as a growing economic output and falling unemployment. They should be used to make a real change to the people's lives and raise their living standards."

The President suggested that Bulgaria can build facilities for logistical maintenance and repair of civil aircraft. The country has many skilled aviation professionals and higher schools of aviation, and will count on the World Bank's expert assessment and support for carrying out the idea.

"The successful operation and constant expansion of the logistical centre of Lufthansa Technik in Sofia proves that Bulgaria has potential to reinforce its position in this high-tech sector," Radev said.

The World Bank officials expressed their willingness to provide expertise for the projects presented by President Radev. They stressed Bulgaria's role as a stability factor and a promoter of regional integration in Southeastern Europe.

They confirmed the World Bank's desire to help remove the impediments to economic and people-to-people exchange in the region and encourage real progress in regional cooperation.