Bulgaria to expand social economy through innovation

Bulgaria aims to expand and modernize its social economy by developing a network of social enterprises through social innovation. This objective was announced by Minister of Labor and Social Policy Natalia Efremova during the 81st session of the United Nations General Assembly in New York.

Key initiatives include the upcoming establishment of a Competence Center for Social Innovation. Following the conclusion of European funding, the center is expected to be sustained through state or local government budgets. Efremova emphasized the need for a flexible and inclusive regulatory framework involving governments, non-governmental organizations, and social entrepreneurs.

Currently, six support centers operate within Bulgaria to assist social enterprises with new initiatives and business connections. The government intends to provide both financial incentives and non-financial support to these entities. Bulgaria has also joined an international friendship group dedicated to promoting the social and solidarity economy to facilitate the exchange of best practices.