Economy Overview
Bulgaria, a former communist country soon to enter the European Union, has experienced macroeconomic stability and strong growth since a major economic downturn in 1996 led to the fall of the then socialist government. As a result, the government became committed to economic reform and responsible fiscal planning. Minerals, including coal, copper, and zinc, play an important role in industry. In 1997, macroeconomic stability was reinforced by the imposition of a fixed exchange rate of the lev against the German D-mark - the currency is now fixed against the euro - and the negotiation of an IMF standby agreement. Low inflation and steady progress on structural reforms improved the business environment; Bulgaria has averaged 4% growth since 2000 and has begun to attract significant amounts of foreign direct investment. Corruption in the public administration, a weak judiciary, and the presence of organized crime remain the largest challenges for Bulgaria.
Agriculture Products
vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock
Industries
electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
Industrial Production Growth Rate
7.9% (2005)
Labor Force
3.34 million (2005 est.)
Electricity production
45 billion kWh (2004)
Electricity Consumption
25.1 billion kWh (2004)
Electricity Exports
6.8 billion kWh (2003)
Electricity Imports
1.3 billion kWh (2003)
Unemployment Rate
9.9% (2005)
Population Below Poverty Line
Below $2.15 per day (PPP) 4% (2003)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.4%
Highest 10%: 23.7% (2001)
Distribution of Family Income Gini Index
31.9 (2001)
Budget
Revenues: $11.18 billion
Expenditures: $10.9 billion; including capital expenditures of $NA (2005 est.)
Public Debt
31.9% of GDP (2005 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$8.695 billion (2005)
Debt External
$15.32 billion (2005 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
leva per US dollar - 1.5741 (2005), 1.5751 (2004), 1.7327 (2003), 2.077 (2002), 2.1847 (2001)
