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.
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.
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.
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%.
Bulgaria has a government debt of 47.4% of the country's Gross Domestic Product (GDP), as assessed in 2012.
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%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bulgaria is $129104 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Bulgaria was last recorded at $18 million. PPP in Bulgaria is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Bulgaria is 54,481 billion. Based on this statistic, Bulgaria is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Bulgaria was last recorded at $8 million. The average citizen in Bulgaria has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Bulgaria averaged 1.4% in 2014. According to this percentage, Bulgaria is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Bulgaria.
Major industries in the country are electricity, gas, water, food, beverages, tobacco, machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel. The total labor force of Bulgaria is 3,242,860 people, wherein 5.9% of population in the country are unemployed. The total number of unemployed people in Bulgaria is 415,174. The Industrial Production growth rate of Bulgaria is 0.4%.To read more about industrial information within Bulgaria click on industry of Bulgaria.
There are 33099 km2 of arable land in Bulgaria, and it comprises 30% of the country's total territory. There are 35199 km2 of cultivated land in Bulgaria. The country's major agricultural crops and products are vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets, livestock.To read more about agriculture click on agriculture of Bulgaria.