site.btaEconomy Minister: Expenditures for Scientific Research Should Reach 1.5 Per Cent of GDP by 2020

Economy Minister: Expenditures for Scientific Research Should Reach 1.5 Per Cent of GDP by 2020

Sofia, February 19 (BTA) - One of the Government's main goals is to achieve expenditures for scientific research and development amounting to 1.5 per cent of GDP by 2020, Economy Minister Bozhidar Loukarski said Thursday at the presentation of the Support for Incorporating Innovations in Enterprises procedure under Operational Programme (OP) Innovations and Competitiveness.

This procedure is one of the most important because without innovations, professional qualification and development activity, there cannot be high value added, new markets, export orientation and competitiveness, Loukarski said. He noted Bulgaria's lagging behind in previous years in terms of innovations and competitiveness, particularly on external markets. "The goal is for us to turn from timid innovators into a higher category," he said.

This year, thanks to OP Innovations and Competitiveness, an economic growth is expected at least at the level of 2015, the minister noted.

The Support for Incorporating Innovations in Enterprises procedure is aimed at providing support to enterprises for increasing their innovative activity in thematic spheres under the Smart Specialization Strategy. The grants under the procedure amount to 50 million euro, and the deadline for submitting projects is April 4.