Economy of Bulgaria

The economy of Bulgaria functions on the principles of the free market, having a large private sector and a smaller public one. Bulgaria is an industrialised upper-middle-income country according to the World Bank. It has experienced rapid economic growth in recent years reaching estimated Gross domestic product of $123.9 billion (PPP, 2014), GDP per capita of $17,054 (PPP, 2014), and mean monthly salary of 897 leva (459 EUR) (April, 2015).

Since 2001, Bulgaria has managed to attract considerable amounts of Foreign Direct Investment (FDI). During the Financial crisis of 2007–2010, Bulgaria marked a decline in its economy of 5.5% in 2009, but quickly restored positive growth levels to 0.2% in 2010, in contrast to other Balkan countries.

The currency of the country is the lev (plural leva), pegged to the euro at a rate of 1.95583 leva for 1 euro. The lev is the strongest and most stable currency in Eastern Europe. The strongest sectors are energy, mining, metallurgy, machine building, agriculture and tourism. Primary industrial exports are clothing, iron and steel, machinery and refined fuels. Low productivity and competitiveness on the European and world markets alike due to inadequate R&D funding and a lack of a clearly defined development policy remain a significant obstacle for foreign investment and economic growth.

Bulgaria

Coordinates: 42°45′N 25°30′E / 42.750°N 25.500°E / 42.750; 25.500

Bulgaria (ⁱ/bʌlˈɡɛəriə/, /bʊlˈ-/; Bulgarian: България, tr. Bǎlgarija, IPA: [bɐɫˈɡarijɐ]), officially the Republic of Bulgaria (Bulgarian: Република България, tr. Republika Bǎlgarija), is a country in southeastern Europe. It is bordered by Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. With a territory of 110,994 square kilometres (42,855 sq mi), Bulgaria is Europe's 16th-largest country.

Organised prehistoric cultures began developing on Bulgarian lands during the Neolithic period. Its ancient history saw the presence of the Thracians and later the Persians,Greeks and Romans. The emergence of a unified Bulgarian state dates back to the establishment of the First Bulgarian Empire in 681 AD, which dominated most of the Balkans and functioned as a cultural hub for Slavs during the Middle Ages. With the downfall of the Second Bulgarian Empire in 1396, its territories came under Ottoman rule for nearly five centuries. The Russo-Turkish War (1877–78) led to the formation of the Third Bulgarian State. The following years saw several conflicts with its neighbours, which prompted Bulgaria to align with Germany in both world wars. In 1946 it became a one-party socialist state as part of the Soviet-led Eastern Bloc. In December 1989 the ruling Communist Party allowed multi-party elections, which subsequently led to Bulgaria's transition into a democracy and a market-based economy.

Bulgaria (European Parliament constituency)

In European elections, Bulgaria is a constituency of the European Parliament, represented by seventeen MEPs. It covers the member state of Bulgaria.

Current MEPs

As of January 2015

2007

The 2007 European election was Bulgaria's first since joining the European Union on 2007-01-01 and was held on 2007-05-20.

The top two parties scored 5 seats each; Citizens for European Development of Bulgaria and Bulgarian Socialist Party, followed by the Movement for Rights and Freedoms with four, Ataka with three, and National Movement Simeon II (NDSV) with one. It was considered likely that the result of the election would cause a major political crisis in Bulgaria, due to the expected weak results of the National Movement.

2009

2014

References

External links

Bulgaria (ship)

Bulgaria (Russian: Булга́рия, tr. Bulgariya) was a class 785/OL800 Russian river cruise ship (built in Komárno, Czechoslovakia) which operated in the Volga-Don basin. On 10 July 2011, Bulgaria sank in the Kuybyshev Reservoir of the Volga River near Syukeyevo, Kamsko-Ustyinsky District, Tatarstan, Russia, with 201 passengers and crew aboard when sailing from the town of Bolgar to the regional capital, Kazan. The catastrophe led to 122 confirmed deaths (bodies recovered and identified).

The sinking of Bulgaria is the largest Russian ship disaster since 1986 when the SS Admiral Nakhimov crashed into a cargo ship and 423 people died.

Ship

Bulgaria was built at Slovak shipyard in Komárno, Czechoslovakia, in 1955 as Ukraina, and was renamed in February 2010 to Bulgaria after the Volga Bulgaria. Her length was 80.2 metres (263 ft), her beam was 12.5 metres (41 ft), her draft was 1.9 metres (6.2 ft), and her power output was 273 kilowatts (366 hp). She had two engines and two decks. Her cruising speed was 20.5 kilometres per hour (12.7 mph; 11.1 kn), and her original passenger capacity was 233 (then reduced after overhaul).