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 a 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
1.5% (2008 est.)country comparison to the world: 115
Labor Force
2.67 million (2008 est.)country comparison to the world: 107
Electricity production
40.25 billion kWh (2007 est.)country comparison to the world: 53
Electricity Consumption
31.08 billion kWh (2007 est.)country comparison to the world: 57
Electricity Exports
8.441 billion kWh (2008 est.)
Electricity Imports
3.097 billion kWh (2008 est.)
Unemployment Rate
6.3% (2008 est.)country comparison to the world: 79 7.7% (2007 est.)
Population Below Poverty Line
14.1% (2003 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 3%
Highest 10%: 25.5% (2007)
Distribution of Family Income Gini Index
30.7 (2007)country comparison to the world: 109 26.4 (2001)
Budget
Revenues: $22.24 billion
Expenditures: $20.74 billion (2008 est.)
Public Debt
14.1% of GDP (2008 est.)country comparison to the world: 106 41.9% of GDP (2004 est.)
Central Bank Discount Rate
5.77% (31 December 2008)country comparison to the world: 111 4.58% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$32.04 billion (31 December 2008)country comparison to the world: 52 $25.18 billion (31 December 2007)
Market Value of Publicly Traded Shares
$8.858 billion (31 December 2008)country comparison to the world: 68 $21.79 billion (31 December 2007)$10.32 billion (31 December 2006)
Reserves of Foreign Exchange and Gold
$17.93 billion (31 December 2008 est.)country comparison to the world: 55 $17.54 billion (31 December 2007 est.)
Debt External
$51.46 billion (31 December 2008 est.)country comparison to the world: 53 $42.62 billion (31 December 2007)
Stock of Direct Foreign Investment at Home
$42.91 billion (31 December 2008 est.)country comparison to the world: 52 $33.91 billion (31 December 2007 est.)
Stock of Direct Foreign Investment Abroad
$1.292 billion (31 December 2008 est.)country comparison to the world: 68 $559 million (31 December 2007 est.)
Exchange Rates
leva (BGN) per US dollar - 1.3171 (2008 est.), 1.4366 (2007), 1.5576 (2006), 1.5741 (2005), 1.5751 (2004)
