The National Plan for Implementation of the European Youth Guarantee became a fact today, said Deputy Minister of Labor and Social Policy at a press conference after the meeting of the Council of Ministers. “Bulgaria is among the first countries to be ready with this plan and begin its implementation from 1 January”, Ms. Yankova pointed out. The unemployment among young people between the ages of 15 and 24 was currently 28.1%, according to Eurostat.
“The goal which we hope to achieve with the Youth Guarantee Plan is to reduce the unemployment rate down to 7% of the total number of unemployed under 29”, the Deputy Minister said.
The Guarantee would start on 1 January with BGN 24 million in funding from the state budget, roughly a third of resources allocated for the implementation of the National Action Plan for Employment for 2014. There would be a total of BGN 409 million for all young people under the age of 29 for 2014-2020. The most part of the funds – BGN 230 million – would be spent on various programs and measures for the provision of services for 2014-2015.
The plan focused on improving young people’s qualification and education. Programs and measures would include around 420,000 young people over the entire 7-year period. “Individual action plans will be developed. It is expected that 154,000 people will be provided with subsidized employment, and 60, 000 with jobs within the primary sector of the labor market. Services related to training, retraining, and motivation training will target the remaining part of young people in order ensure subsequent employment”, the Minister said.
Individual action plans would be prepared for 75,000 young people in 2014. “We will have BGN 30 million at our disposal under Human Resources Development OP which will be used to create sustainable and new employment for young people”, Ms. Yankova pointed out. Around 14,000 young people would take part in motivational trainingunemployment among young people between the ages of 15 and 24 was currently 28.1%, according to Eurostat.