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Introduction
editThe economy of Bulgaria functions on the principles of the free market, having a large private sector and a smaller public one.
Memberships
editBulgaria is an industrialised upper-middle-income country according to the World Bank,[1] and is a member of the European Union (EU), World Trade Organization (WTO), Organization for Security and Co-operation in Europe (OSCE) and Organization of the Black Sea Economic Cooperation (BSEC).
Current State
editThe Bulgarian economy has experienced rapid growth in recent years[update] reaching estimated gross domestic product (GDP) of $162.68 billion (PPP, 2018 est.), GDP per capita of $23,207 (PPP, 2018 est.), and average monthly gross salary of 1205 leva (616 euro) (December, 2018).[2]
Curreny 1
editThe national currency is the lev (plural leva), pegged to the euro at a rate of 1.95583 leva for 1 euro.[3]
Curreny 2
editThe lev is the strongest and most stable currency in Eastern Europe.[4][5]
Sectors
editThe strongest sectors in the economy are energy, mining, metallurgy, machine building, agriculture and tourism. Primary industrial exports are clothing, iron and steel, machinery and refined fuels.[6]
Recent Recession
editDuring the Great Recession, Bulgaria saw its economy decline by 5.5% in 2009, but quickly restored positive growth levels to 0.2% in 2010, in contrast to other Balkan countries.[7] However, the growth continued to be weak in the following years, and GDP only reached pre-crisis levels in 2014.[8]
References
edit- ^ "World Bank country data: Bulgaria". The World Bank Group. 2015. Retrieved 25 April 2012.
- ^ "СРЕДНА МЕСЕЧНА ЗАПЛАТА НА НАЕТИТЕ ЛИЦА ПО ТРУДОВО И СЛУЖЕБНО ПРАВООТНОШЕНИЕ ПРЕЗ 2017 ГОДИНА*". National Statistical Institute.
- ^ Fixed currency exchange rates, Bulgarian National Bank.
- ^ Bulgarian Bank Advisor: Bulgaria Lev Strongest Currency in Eastern Europe, Novinite, 16 February 2009
- ^ Bulgarian Lev – the Balkans’ Strongest Currency, Standart, 16 February 2009
- ^ "Field listing of principal export commodities". Central Intelligence Agency. 2011. Retrieved 20 December 2011.
- ^ "Eurostat – Tables, Graphs and Maps Interface (TGM) table". Epp.eurostat.ec.europa.eu. 11 March 2011. Archived from the original on 16 May 2011. Retrieved 26 April 2011.
- ^ "Състояние и тенденции в развитието на областите: общ преглед". ИПИ. Retrieved 9 April 2016.