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  Bulgaria
HOME >> COUNTRY REPORTS >> Bulgaria
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Official name Republic of Bulgaria
Capital  Sofia
Population  7,322,858
Currency  lev(BGL)
Official language   Bulgarian
GDP  $10,400
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  STRENGTHS
  WEAKNESSES

Bulgaria joined the European Union in 2007

Put the small country on the investors’ map

Bulgaria is a popular destination for foreign investors

Unemployment is dropping every year and salaries are growing shyly

Prices are among the lowest in Europe whereas

The returns are big enough as to be taken into consideration

Bulgaria is an emerging market at the present

Slow but secure price growth

Bulgaria is a post-communist country, so its inhabitants are constantly looking for better places to live and the demand outstrips the supply.

Bulgaria was appearing on British TV programmes like A Place in the Sun sharing the country’s beauty and low property prices with millions

Liberal foreign investment laws

Limited currency risk (BGN is fixed to the EURO under a stable currency board)

Foreigner can legally own property through appropriate legislative schemes

The lowest operating cost in a European market economy

GDP is projected to grow by 5% on average per year in the medium term

Corruption has always made the country take a step back on its way to developing and becoming highly competitive

The government was at other times criticized for levels of corruption in both healthcare and education

Bulgaria’s population of only 7 million puts it in a weaker position than Romania for example that has 22 million inhabitants.

The land prices in Bulgaria are considered to high by investors that become reluctant to buy it under these circumstances

The problem with Bulgaria’s nuclear waste is also something that should be taken into consideration since it’s causing the country a lot of discomfort. For more than 10 years now, the old fuel has piled up in temporary storage on the site of the Kozloduy plant, where there is no safe place for long-term storage of radioactive waste

Other annalists say that the main problem of Bulgaria’s labour market was the lack of qualified employees rather than unemployment, European Integration Minister Meglena Kouneva said.

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