{"id":378928,"date":"2022-06-28T06:30:00","date_gmt":"2022-06-28T04:30:00","guid":{"rendered":"https:\/\/innovationorigins.com\/?p=378928"},"modified":"2022-06-28T06:30:00","modified_gmt":"2022-06-28T04:30:00","slug":"bulgaria-struggles-with-its-green-transition-but-the-future-seems-bright","status":"publish","type":"post","link":"https:\/\/ioplus.nl\/archive\/en\/bulgaria-struggles-with-its-green-transition-but-the-future-seems-bright\/","title":{"rendered":"Bulgaria struggles with its green transition but the future seems bright"},"content":{"rendered":"\n
Read more about the other countries in this project<\/span><\/a><\/div>
More about Bulgaria<\/span><\/a><\/div><\/div><\/div><\/div>\n\n\n\n\n\n

A crisis such as COVID-19 calls for robust measures. The European Commission created the Recovery and Resilience Facility, which is comprised of over \u20ac 723.8 billion in grants and loans. To claim a share of this budget, member states had to present a plan of reforms and investments to foster the digital and green transition. In Decarbonizing Europe, we analyze and compare the different plans. What are countries spending the money on, what is their strategy and how are they tackling the climate crisis? This week: Bulgaria. <\/em><\/p>\n\n\n\n

Bulgaria seems like a paradise on earth replete with beautiful nature. Yet that is only one side of the coin. Much remains to be done where sustainability and greening are concerned. And just when that is so important, there seems to be a countermovement going on. Inflation has already driven up prices in this country. To make matters worse, oil and gas have also become extremely expensive. As a result, some Bulgarians are buying wood-burning stoves again, because for them, electricity and gas are now unaffordable. <\/p>\n\n\n\n

And there are many more problems that hinder the green transition. Bulgarian businesses, for example, have difficulties in making full use of the benefits that new digital technologies have to offer. Barely 6 percent of the small and medium businesses sell their products and services online while the EU average is 17 percent. Additionally, the Covid-19 crisis seriously hit the economy which lead to a decline in the GDP of 4.2 percent and an annual decline in employment figures of 2.3 percent.<\/p>\n\n\n\n

The Recovery and Resilience Plan (RRP)<\/a> that Bulgaria submitted to the European Commission is set to bring in \u20ac6.27 billion in grants. A total of 58.9 percent of the funds is aimed at supporting climate targets and 25.8 percent will boost the digital transition. So far, the plan comprises 56 investments and 47 reforms. Bulgaria will have to implement all of them within a tight time frame \u2013 the Recovery and Resilience Facility regulation stipulates that this must be done by August 2026.<\/p>\n\n\n\n