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Although politicians were giving warranties that the late-2000s recession would not hit Bulgaria, the economy suffered a 5.5% GDP decline in that period. Unemployment rose for at least five-quarters bringing Bulgaria's worst recession since the early 1990s. Still, economic circumstances were not too severe when compared to the rest of Europe ...
The recession was further exacerbated by falling exports. Exports declined strongly in the fourth quarter of 2008 and the first quarter of 2009, hit by the recession in Bulgaria’s trading partners, and stabilized thereafter. For 2009 as a whole, exports declined by some 19 percent in value terms and 11 percent in volume terms. POLICY RESPONSES
Based on an analytical narrative, and utilizing macroeconomic and new institutional economic. theory, this exposition studies the Bulgarian economy during the decades after 1989. The three ...
The recession was further exacerbated by falling exports. Exports declined strongly in the fourth quarter of 2008 and the first quarter of 2009, hit by the recession in Bulgaria’s trading partners, and stabilized thereafter. For 2009 as a whole, exports declined by some 19 percent in value terms and 11 percent in volume terms.
Sep 7, 2024 · This article examines the trends, challenges, and economic impacts of inflation in Bulgaria from the early 2000s to 2024. Early 2000s: Stabilization After Hyperinflation. Bulgaria entered the 21st century recovering from a period of severe economic instability in the 1990s.
May 5, 2012 · But, following the decade of reforms, the struggle for western markets resulted in the reduction of Bulgaria’s trade turnover by 200%. Export fell by 240%. If in 1992 Bulgaria’s trade turnover amounted to 30.3% for the EU countries and Russia’s share was 20%, in 1999, the EU countries’ share grew by 51.5% and Russia’s share dropped to ...
Apr 10, 2024 · GDP per capita, current US$. 15,997.1. Life Expectancy at birth, years. 71.5*. *Most recent WDI value (2021) Bulgaria has undergone a significant transformation over the past three decades. It has moved from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the European Union (EU ...
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