Category: Economy

Economy

Protest BulgariaThe economy of Bulgaria collapsed dramatically after 1989 with the loss of the market of the former communist states, to which the Bulgarian economy had been closely tied.

The standard of living fell by about 40%. In addition, UN sanctions against Yugoslavia and Iraq had a very negative impact on the Bulgarian economy.

Since 1997 the country began to recover with growing GDP, increasing foreign investments and macroeconomic stability. Important steps have been taken in privatisation, banking sector reforms and agricultural liberalization. Read more

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