site.btaOECD Study: Bulgaria Could Unlock USD 434 Bln Economic Potential by Improving Basic Student Skills

More than 40% of Bulgarian students fail to acquire even basic skills needed for everyday life and professional development, according to a new study by the Organisation for Economic Co-operation and Development (OECD). The report suggests that if all 15-year-olds in the country reached at least basic proficiency levels, Bulgaria could unlock a long-term economic potential of USD 434 billion—more than triple its current GDP.

The findings were presented by Andreas Schleicher, Director of the OECD’s Directorate for Education and Skills and creator of the international PISA assessment, during a roundtable discussion in Sofia. The event, entitled "Education and Skills: Preparing for the Future of the Labour Market," was organized by the Association for Innovation, Business Services, and Technology (AIBEST), the organization reported on Wednesday.

The roundtable brought together leaders from the business and education sectors to address how global transformations, automation, and artificial intelligence are reshaping the skills needed in the modern workforce. Discussions also focused on the types of policies and partnerships necessary to prepare students and workers for the future.

In his presentation, Schleicher emphasized the growing disconnect between educational systems and the realities of today's world. “What is easy to teach and test is now also easy to digitalize and automate—and gradually, the people doing these tasks are disappearing from the labor market,” he warned.

Schleicher emphasized the significant economic consequences of poor educational performance in Bulgaria. He noted that the price of weak educational results is "simply astonishing," underscoring the urgent need for reform. 

Schleicher also pointed out that success in today's economy depends more on real skills than on academic degrees. He observed that many individuals are overqualified but lack the necessary skills, leading to societal polarization. This trend contributes to a widening gap between high-skill, high-wage jobs and low-skill, low-wage positions, with a diminishing number of middle-skill opportunities. 

Ilia Krustev, a member of the Board of Directors of the Association for Innovation, Business Services, and Technology (AIBEST), opened the event with a call for alignment between policies and the needs of the real economy. He stated that “real change will come when we work together—business, government, and educational institutions—and base our decisions on data."

Natalia Miteva, advisor to the Minister of Education and Science, emphasized the importance of strategic partnership with the OECD. She highlighted that the collaboration with Schleicher's team is crucial for the reforms Bulgaria is undertaking in education. Miteva noted that part of the OECD's strength lies in working not only with data but also with individuals who will shape the high added value of the Bulgarian economy.

Representatives of leading companies and associations from the high-tech economy took part in the discussion focused. Topics included the need for a national skills strategy, the role of business as a partner in education, and the opportunities for using data to shape policies for skills development in both school education and lifelong learning for adults.

Andreas Schleicher called for systemic change in which businesses play an active role—not only as employers but also as creators of learning environments. Only in this way can Bulgaria unlock the full potential of its human capital in an economy where skills are the currency of the future, the statement emphasized.