Bulgarian National Assembly voted in favor of additional financial aid of approx. 31 million Bulgarian levs to battle the economic impact of the COVID-19 pandemic in Bulgaria, announced on Thursday the Council Of Ministers’ Press Office.
The Assembly also voted in favor of an amendment to the operational program “Science and Education for Smart Growth” in order to cushion the economical consequences of the economic hold-up. The move would free up an additional 30 946 149 Bulgarian levs for handling the epidemic situation in the country by supporting the recovery in the worst-hit economic sectors in the country and protecting the most vulnerable parts of society.
As part of the amendment, 28 790 507 Bulgarian levs from “Science and Education for Smart Growth” will be redirected towards the “Human Resources Development” programme and further 2 155 642 Bulgarian levs to the “Innovation and Competitiveness” programme. Part of the funds aims to support the already existing governmental employment subsidies and to provide additional liquidity to small and mid-sized Bulgarian businesses. The funds will be diverted from unused or saved up resources of the Science and Education programme.
The amendment was made possible after the European Commission introduced changes allowing diversion of funds between different European operational programmes in order to aid the economic recovery of the European member countries.
