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BULGARIA
Year of EU entry 2007
Political system Republic
Capital city Sofia
Total area 111,000 km2
Population 7.8 million
Currency lev |
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Overview
Located in the heart of the Balkans, Bulgaria offers a highly diverse landscape. The north is dominated by the vast lowlands of the Danube and the south by the highlands and elevated plains. In the east, the Black Sea coast attracts tourists all year round.
Founded in 681, Bulgaria is one of the oldest states in Europe. Its history is marked by its location near Europe's frontier with Asia. Some 85% of the population are Orthodox Christians and 13% Muslims. Around 10% of the population are of Turkish origin while 3% are Roma. Similarly, its traditional dishes are a mixture of east and west. The most famous Bulgarian food must be yoghurt, with its reputed gift of longevity for those Bulgarians who consume it regularly.
The Bulgarian National Assembly (the single chamber parliament) consists of 240 members who are elected for a four-year period.
Bulgaria's main exports are light industrial products, foods and wines, which are successfully competing on European markets.
Bulgaria is famous for its folk music. A Bulgarian folk song was recorded on the Voyager Golden Record which was sent into outer space by NASA. Famous Bulgarians include philosopher Julia Kristeva and Elias Canetti, Nobel Prize winner for literature in 1981, and Christo Javachev ('Christo'), the creator of many unorthodox outdoor sculptures.
Economy
Bulgaria, a former communist country, has experienced macroeconomic stability and strong growth since a major economic downturn in 1996 led to the fall of the then socialist government. As a result, the government became committed to economic reform and responsible fiscal planning.
Minerals, including coal, copper, and zinc, play an important role in industry. In 1997, macroeconomic stability was reinforced by the imposition of a fixed exchange rate of the lev against the German D-mark and the negotiation of an IMF standby agreement. Low inflation and steady progress on structural reforms improved the business environment; Bulgaria has averaged 4% growth since 2000 and has begun to attract significant amounts of foreign direct investment. Corruption in the public administration, a weak judiciary, and the presence of organised crime remain the largest challenges for Bulgaria.
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