INVESTOR CLIMATE
in Bulgaria
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. Bulgaria has averaged more than 6% growth since 2004, attracting significant amounts of foreign direct investment.
GDP (purchasing power parity):
$93.78 billion (2008 est.)
$88.48 billion (2007)
$83.31 billion (2006)
note: data is in 2008 US dollars
GDP (official exchange rate):
$49.43 billion (2008)
GDP - real growth rate:
6% (2008)
6.2% (2007 est.)
6.3% (2006 est.)
GDP - per capita (PPP):
$12,900 (2008 est.)
$12,100 (2007 est.)
$11,300 (2006 est.)
note: data are in 2008 US dollars
Unemployment rate:
6.3% (2008)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 25.5% (2007)
Distribution of family income - Gini index: 30.7 (2007)
Investment (gross fixed):
38.3% of GDP (2008)
Budget:
revenues: $20.43 billion
expenditures: $18.93 billion (2008)
Inflation rate (consumer prices):
7.8% (2008)
Central bank discount rate:
5.77% (31 December 2008)
Commercial bank prime lending rate: 10% (31 December 2007)
Market value of publicly traded shares:
$21.79 billion (31 December 2007)
Industrial production growth rate: 3.9% (2008)
Current account balance: -$12.11 billion (2008)
Exports: $22.3 billion f.o.b. (2008)
Imports: $35.3 billion f.o.b. (2008)
Reserves of foreign exchange and gold:
$18.59 billion (31 December 2008)
Stock of direct foreign investment - at home:
$45.13 billion (2008)
Stock of direct foreign investment - abroad:
$1.402 billion (2008)
Exchange rates:
leva (BGN) per US dollar - 1.3171
(2008 est.), 1.4366 (2007), 1.5576
(2006), 1.5741 (2005), 1.5751 (2004)
Annual GDP Growth (%):
6.3(2006), 4.8 (2009)
VAT: 20%, reduced rate of 7%
Income tax rate: flat 10% in 2009 for individuals
Corporate tax rate: 10% in 2009