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Bulgaria invests only 0.7% of its GDP in science and innovation

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Prof. Sasho Penov, caretaker minister of education and science
Photo: Council of Ministers

In total, investments in Bulgaria for science and innovation are 0.7% of GDP, while in the EU the average level is 2.2% of a country's GDP. This was announced by the caretaker Minister of Education and Science, Sasho Penov, during the presentation in Sofia of the"New European Innovation Programme with a budget of 10 billion euros. 

In terms of the level of innovation, Bulgarian enterprises are below the average level for the EU, Penov said. He cited data from the National Statistical Institute, according to which only about 36% of enterprises in Bulgaria carry out innovative activities, BTA reported. 

According to the minister, it is necessary for the Scientific Research Fund and the Innovation Fund organize their activities in such a way that it is possible for the scientific results to be transformed into innovations and hence to be the driving force of an innovation economy.

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