FROM SUSTAINABILITY TO A MODEL OF CIRCULAR ECONOMY - THE EXAMPLE OF BULGARIA

 Nikolay Sterew¹   Vania Ivanova²*
¹Prof. Dr.University of National and World Economy, Bulgaria E-mail: sterew@abv.bg
²Ass. Prof. Dr., University of National and World Economy, Bulgaria E-mail:arbneda@abv.bg
*Corresponding author

Abstract

The increasing consumption of resources and the environmental consequences it causes require a change in the economic model. The concept of a circular economy is part of this change. It is a closed cycle covering each of the three areas: the supply and responsible choice of the producers, the demand and the consumer behaviour and the waste management.

In order to successfully meet the EU's resource efficiency targets by 2030, the transition to a circular economy model should become a state priority. This implies that the concept should be expanded not only to waste reduction and recycling, but also to the disruption of the dependence between economic growth and waste production, as well as the consumption of resources.
The purpose of this paper is to analyse how far in Bulgaria is done the transition from a sustainable economy model to a circular economy, while making a comparison with the EU and to prove the need for an accelerated implementation of adequate measures on the part of public authorities to promote such a change.

This work is based on a descriptive analysis of secondary data on the performance of the indicators of circular economy and sustainable development. The research and analytical methods used for the development of the paper involve graphical and table presentation of statistical data and survey of available legal and analytical research on the topic. Entirely secondary data sources have been used in the research.

The analysis shows the presence of a certain delay compared to the EU average indicators as well as unused opportunities not only related to more efficient use of resources, but also to a radical change in the business model. Companies could seriously reduce their costs, improve their competitiveness and export potential if they implement new business practices and new innovative technologies – in the same time resource saving and environmentally friendly.

The conclusions reached indicate the existence of a number of obstacles that delay the transition to a model of a real circular economy. The concept needs to be expanded not only to waste reduction and recycling, but also to consumer awareness, extension of the product lifecycle, breaking the link between economic growth and waste generation. This calls for accelerating the reform of eco-fiscal and innovative government policies.

The added value of the article is not only the analytical consideration of the problems, but mostly in drawing up recommendations for future measures.

Keywords:circular economy, sustainable development, resource productivity, waste management, ecological transformation