The poor are more vulnerable to health shocks because they often have less access to health care and lower savings to protect them from a financial catastrophe. Directly accessible data for 170 industries from 50 countries The country’s population count is at 7.97 million, with the market that comes with it. We also use third party cookies. If you continue to use this site, you consent to our use of cookies. Bulgaria is an industrialised upper-middle-income country according to the World Bank, and is a member of the European Union (EU), World Trade Organization (WTO), Organization for Security and Co-operation in Europe (OSCE) and Organization of the Black Sea Economic Cooperation(BSEC). There are two main kinds of cookies: “session” cookies and “persistent” cookies. However, the advancement of structural reforms starting in the late 1990s, the introduction of the currency board, and expectations of EU accession unleashed a decade of exceptionally high economic growth and improved living standards. Register in seconds and access exclusive features. Bulgaria gdp growth rate for 2018 was 3.08%, a 0.42% decline from 2017. With a GDP standing at 5,030 EUR per capita in 2012, it is still much lower than the EU average and that means strong potential for international business. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Sectors that are central to the economy of Bulgaria are in energy, mining, metallurgy, machine building, agriculture and tourism, as well as IT & ICT, telecommunications, pharmaceuticals and textiles, while primary industrial exports include clothing, iron and steel, machinery and refined fuels. Bulgaria gdp growth rate for 2016 was 3.81%, a 0.18% decline from 2015. Bulgaria gdp growth rate for 2019 was 3.37%, a 0.29% increase from 2018. In its reform efforts, Bulgaria has chosen to engage the World Bank in selective areas of the development agenda. Please check your download folder. Find Out, Online tool for visualization and analysis. Meanwhile, average annual growth between 2000 and 2010 reached as high as 4.7 per cent, while the per capita income increased dramatically, from 28 per cent of the EU average to 44 per cent, almost doubling in a decade. So investors looking to export to a country, which also happens to offer some of the most competitive business costs in the region, should look to Bulgaria’s lowest tax rates in Europe and generally low labour costs. The new EU funding program for 2021–27, including the introduction of Enabling Conditions, will require the continued strengthening of the state and its institutions, an area in which the Bulgarian government has expressed interest in continued WBG support.
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