site.btaCabinet Approves Additional Expenditure in Budget of Innovation Ministry

The Council of Ministers adopted a decree approving additional expenditure under the budget of the Ministry of Innovation and Growth for 2022.

The provision of additional funding for 2022 in the amount of up to BGN 9,373,992 will provide budgetary resources, the total amount of which will allow for the promotion of a total of 14 companies implementing investment projects certified under the Investment Promotion Act (IPA), with a total value of approximately BGN 429.59 million and providing for the creation of approximately 3,671 new jobs.

By increasing the budget of the Ministry of Innovation and Growth for 2022, support will be provided to companies implementing investment projects and creating significant employment - the investors certified under the IPA.

The financial incentives under the IPA are designed to encourage investment by domestic and foreign businesses to build new production capacity and create long-term new jobs.