The Ministry of Finance officially announced the submission of a second national recovery plan, which covers 653 million euros in financing from the European Union. The document represents an extremely complex package of reforms, combining legislative changes and strategic investment initiatives.
The plan includes large-scale transformations in several key areas. These include radical changes in the electricity market, introduction of new liberalization mechanisms, stimulation of renewable energy sources, and creation of a modern anti-corruption legal framework.
In the legislative aspect, the document provides for amendments to a total of 15 existing laws and the adoption of three entirely new legislative acts. Among the priority areas are improving bankruptcy procedures, introducing mechanisms for individual bankruptcy, and limiting unregulated public procurement.
The investment part of the plan focuses on support for small and medium-sized enterprises, technological modernization, cybersecurity, and energy efficiency. National schemes for reconstruction of residential and non-residential buildings are envisaged, as well as measures to support households in the field of alternative energy.
The document has been resubmitted after initial withdrawal in April 2023 due to unfulfilled preliminary conditions. The government has taken targeted actions to optimize and ensure effective implementation of the planned measures.
The European Commission will conduct a comprehensive assessment of the plan within a two-month period, with a possibility of additional recommendations or corrections. The ultimate goal remains the successful absorption of European funds and structural modernization of the Bulgarian economy.