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  • Borislav Ivanov

Bulgaria has Announced a Recovery and Sustainability Plan

The plan aims both for Bulgaria’s post-pandemic recovery and for measures to achieve a climate neutrality, while at the same time suggesting drastic measures to improve its economy, infrastructure, and quality of life. It is a nearly 300-page document, which we cannot analyze fully in this article, however we can do a proper analysis of it in the future. It proposes long-term investment projects and reforms, which aim to make the Bulgarian economy more competitive and stronger, as well as to improve and boost the well-being of its citizens. The project will be formally sent to the European Commission later today.

The plan includes 46 reforms and 59 investment projects, focusing strongly on economic development, sustainability, interconnected infrastructure, which is an integral part of the wider EU infrastructure, significant strengthening on the focus of decarbonization, digitalization, significant investments in education and healthcare, increased support for business, reforms in the filed of healthcare, electric mobility, the social sphere, rule of law and justice, the business environment, and energy.

Atanas Pekanov, Deputy Prime Minister, had this to say about this project:

"This goes through the recognition that in many respects we are not doing well enough - we have one of the most energy-intensive economies in Europe, we are a timid economic innovator, health and education systems need reform, we are criticized regarding justice. But if we say responsibly today - that's right, but it could be something else, we will be able to move forward. With the hope that the important goals set for our country within the framework of the Plan will be fulfilled and overfulfilled by the next regular and caretaker governments, I look forward and will send the Plan to Brussels tomorrow. All these priorities, reforms, and investments - do not accept them as the desires or views of a technocrat. Such is the political reality that we need them to ensure the prosperity and development of our citizens and our country."

Bulgaria has also announced that all coal power plants which operate in the country will be completely shut down by 2040. This gives enough time to develop a more sustainable electrical infrastructure, as well as time to create jobs for everyone, who’s going to lose their job during the energy transition. This can happen earlier, as 2040 is just the final deadline.

To ensure a better future, drastic steps should be taken. However, these drastic steps must not be radical, as radicalism and revolutions come at a great cost, and are never sustainable in the long-term.

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