US diplomatic representation: chief of mission: Ambassador William D. MONTGOMERY embassy: 1 Saborna Street, Sofia mailing address: Unit 1335, Sofia; APO AE 09213-1335 telephone: [359] (2) 88-48-01 through 05 FAX: [359] (2) 80-19-77
Flag: three equal horizontal bands of white (top), green, and red; the national emblem formerly on the hoist side of the white stripe has been removed - it contained a rampant lion within a wreath of wheat ears below a red five-pointed star and above a ribbon bearing the dates 681 (first Bulgarian state established) and 1944 (liberation from Nazi control)
@Bulgaria:Economy
Overview: The Bulgarian economy continued its painful adjustment in 1994 from the misdirected development undertaken during four decades of Communist rule. Many aspects of a market economy have been put in place and have begun to function, but much of the economy, especially the industrial sector, has yet to re-establish market links lost with the collapse of the other centrally planned Soviet Bloc economies. The prices of many imported industrial inputs, especially energy products, have risen markedly, and falling real wages have not sufficed to restore competitiveness. The government plans more extensive privatization in 1995 to improve the management of enterprises and to encourage foreign investment. Bulgaria resumed payments on its $10 billion in commercial debt in 1993 following the negotiation of a 50% write-off.
National product: GDP - purchasing power parity - $33.7 billion (1994 est.)
National product real growth rate: 0.2% (1994 est.)
National product per capita: $3,830 (1994 est.)
Inflation rate (consumer prices): 122% (1994)
Unemployment rate: 16% (1994)
Budget:
revenues: $14 billion
expenditures: $17.4 billion, including capital expenditures of $610
million (1993 est.)