Over 12 Mln People in EU Work in Solidarity Economy, Says Vice President Iotova

Desislava Toncheva

Vice President Iotova at the forum in Bankya, October 15 (BTA Photo/Nikola Uzunov)

Sofia,

15.10.2024 15:49

(BTA)

At the opening of the 12th European Forum on Social and Solidarity Economy, taking place in Bankya between 15 and 17 October, Vice President Iliana Iotova said that over 12 million people and four million enterprises and companies (nearly 6% of all working people within the EU) are involved and work in the field of social and solidarity economy. The data are from a study commissioned by the European Commission and implemented by the European Innovation Council and SME Europe in all 27 EU countries, noted Iotova.

"The European and Bulgarian social and solidarity economy does not only take care of income, it takes care not only of leveling the standard and lifestyle of people, but it is the basis of the economic development of every country. We often talk about this type of economy as some residual economy," the Vice President commented.

Iotova noted that in 2008, during the financial and economic crisis, it was precisely thanks to small and medium-sized enterprises, social and solidarity cooperatives that people kept their jobs. "When the state is wise enough through its institutions to support small and medium businesses, it is good for the economy as a whole," she added.

Iotova stressed that it is time to create a powerful and large-scale national infrastructure, which will support not only the National Union of Worker Producers` Cooperatives, but also support the people themselves and the participants in this union, the small enterprises, those who have immediate need of a little timely help so that they can develop their business.

/DS/