Economy - overview:
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 a commitment to economic reforms and responsible fiscal planning, but have failed so far to rein in rising inflation and large current account deficits. Bulgaria has averaged more than 6% growth since 2004, attracting significant amounts of foreign direct investment, but corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.
GDP (purchasing power parity):
$93.98 billion (2008 est.) country comparison to the world: 67 $88.66 billion (2007 est.)
$83.48 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate):
$49.9 billion (2008)
GDP - real growth rate:
6% (2008 est.) country comparison to the world: 59 6.2% (2007 est.)