FINANCIAL ASPECTS OF EDUCATION IN THE REPUBLIC OF BULGARIA

Abstract

Financial aspects of educational sector are of paramount importance for the national and world economic development especially after the negative impact of the first global financial and economic crisis of the current century. Therefore, the precise insight into related problems provides arguments that one of the factors for an optimally functioning knowledge-based economy is to give top priority to education. This article focuses on the financial aspects of education in the Republic of Bulgaria with the aim to objectify the current state and to identify potential opportunities for reaching European dimensions in the educational sector and to implement the objectives of the Europe 2020 Strategy for smart, sustainable and inclusive growth.