Bulgaria - Economic Overview

Bulgaria, a former Communist country that entered the EU on 1 January 2007, averaged more than 6% growth from 2004 to 2008, driven by significant amounts of foreign direct investment.

Successive governments have demonstrated a commitment to economic reforms and responsible fiscal planning, but the global downturn is reducing exports, capital inflows, and industrial production.

GDP in 2009 contracted by approximately 5%.

Corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.

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