Bulgaria to Back Lending to SMEs with EUR 102 M in EU Funds by 2020

Bulgaria is the third country in the EU which has secured resources for lending to small and medium-sized enterprises (SMEs) under the European Regional Development Fund, Deputy Economy Minister Daniela Vezieva has said.

"This has been done through the approved Operational Programme “Initiative for SMEs", which will provide Bulgaria with access to a budget of EUR 102 M by 2020, through which lending to SMEs will be stimulated," Vezieva has said at the opening of Balkan SME Conference in Sofia on Thursday.

Bulgaria maintains macroeconomic and financial stability and expects its economic growth to accelerate in 2016, driven by exports and domestic consumption, Vezieva has said, according to a statement issued by the Economy Ministry.

Vezieva also said that the government expected exports to remain the main growth engine in Bulgaria this year – just like in 2015, when exports contributed most to the growth of Gross Domestic Product.

According to recent statistical data, domestic consumption was on the rise as well and its share in GDP growth is likely to increase as well, Vezieva added,