Economy Overview
Bulgaria, a former communist country that entered the EU on 1 January 2007, has experienced strong growth since a major economic downturn in 1996. Successive governments have demonstrated commitment to economic reforms and responsible fiscal planning, but have failed so far to rein in rising inflation and large current account deficits. Bulgaria has averaged more than 6% growth since 2004, attracting significant amounts of foreign direct investment, but corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.
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
14% (2007 est.)
Labor Force
2.593 million (2007 est.)
Electricity production
43.15 billion kWh (2006 est.)
Electricity Consumption
30.5 billion kWh (2006 est.)
Electricity Exports
7.534 billion kWh (2007 est.)
Electricity Imports
3.054 billion kWh (2007 est.)
Unemployment Rate
7.7% (2007 est.)
Population Below Poverty Line
Household Income or Consumption by Percentage Share
Lowest 10%: 2.9%
Highest 10%: 25.4% (2005)
Distribution of Family Income Gini Index
31.6 (2005)
Budget
Revenues: $16.84 billion
Expenditures: $15.35 billion (2007 est.)
Public Debt
10.5% of GDP (2007 est.)
Central Bank Discount Rate
4.58% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$25.18 billion (31 December 2007)
Market Value of Publicly Traded Shares
$10.32 billion (2006)
Reserves of Foreign Exchange and Gold
$17.38 billion (31 December 2007 est.)
Debt External
$34.88 billion (30 June 2007)
Stock of Direct Foreign Investment at Home
$33.91 billion (2007 est.)
Stock of Direct Foreign Investment Abroad
$559 million (2007 est.)
Exchange Rates
leva (BGN) per US dollar - 1.4366 (2007), 1.5576 (2006), 1.5741 (2005), 1.5751 (2004), 1.7327 (2003)
