Here is your first Forum » Economy of Bulgaria

Bulgaria is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Bulgaria may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Bulgaria exports around $27.9 billion and imports roughly $32.88 billion. 5.9% of population in the country are unemployed. The total number of unemployed people in Bulgaria is 415,174. In Bulgaria, 21.8% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Bulgaria is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.1% of GDP. The Gini Index of the country is 35.4. Bulgaria is experiencing good equality. The majority of citizens in Bulgaria fall within a narrow range of income, although some cases may show significant differences. Bulgaria has a Human Development Index (HDI) of 0.777. Bulgaria has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Bulgaria is 1.607. Due to strong law enforcement presence and high social responsibility, Bulgaria is very safe by international standards. The strength of legal rights index for Bulgaria is 9. Overall, it is considered to be rather strong - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible.

Currency
The currency of Bulgaria is Bulgarian lev. There are several plural forms of the name 'Bulgarian lev'. These are leva, levs. The symbol used for this currency is лв, and it is abbreviated as BGN. The Bulgarian lev is divided into Stotinka; there are 100 in one lev.

Credit rating
The depth of credit information index for Bulgaria is 5, which means that information is usually sufficient and quite accessible, although occasionally some necessary details may be lacking. According to the S&P credit-rating agency, Bulgaria has a credit rating score of BB+, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Bulgaria has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Bulgaria has a credit rating score of Baa2, and the prospects of this rating are stable.

Central bank
The prime lending rate of Bulgaria's commercial banks is 8.4. In Bulgaria, the institution that manages the state's currency, money supply, and interest rates is called Bulgarian National Bank. Locally, the central bank of Bulgaria is called Българска народна банка. The average deposit interest rate offered by local banks in Bulgaria is 1.7%.

Public debt
Bulgaria has a government debt of 47.4% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Bulgaria is set at 10%. Personal income tax ranges from 10% to 10%, depending on your specific situation and income level. VAT in Bulgaria is 20%.