Deputy economy minister Nina Radeva announced that the state budget will provide a total of EUR 31mn for improving the energy efficiency of small and medium sized enterprises (SME) this and next year. The funds would finance SME projects for using solar and biothermal energy and for purchases of equipment to improve the energy efficiency of the companies. Head of the agency of energy efficiency Tasko Ermenkov said at the end of the last year that the energy efficiency of the economy is expected to increase by 1% each year until 2016, which would lower consumption by 630,000 tons of oil equivalent at the end of the period. The measures for achieving the target include transport regulations as one of the most energy-intensive branches. The country uses by 50% to 100% more energy per unit of production as compared to EU-15 average, according to former energy minister Milko Kovachev, counsellor at the EBRD at present.