BULGARIAN ECONOMY
International observers consider Bulgaria as the center of stability on the Balkans. This is an example of a reliable, stable and liberal country with exclusive opportunities for investments. The Balkan Tiger, as the Bulgarian economy is called in the last few years, offers the lowest business expenses, taxes and salaries and a very educated population. It is observed an economical growth at about 5 % a year in the country. The expected for a long time joining to the European Union has given a push to foreign investments.
The cheap price of the land, residential units and especially low construction costs attracts both foreign buyers of homes for rest and greater investors. On the other hand the buyers are provided with a profitable investment, since the REMI (Real Estate Market Index) raises constantly and there are no tendencies that this development will stop.
- Currency: 1 lev = 100 stotinki, 1,95 leva = 1 Euro. The Bulgarian Lev is pegged to Euro and thereby an insurance against currency fluctuation is provided
- Economic growth of 5,5 % - in 2005
- BNP per capita €7300
- Inflation of 4,5 % - 2005; 6,1 % - 2004; 2,3 % - 2003
- Direct foreign investments €2-2,5 million - 2006; €2,3 million - 2005; €2,9 million – 2004
- Foreign trade turnover €24,15 million (+23 % compared to 2004)
- Average monthly wages €150 Minimal monthly wages €83
- Unemployment level 11,5% - 2005; 12,7% - 2004 % ; 14,3% - 2003
- Branches under development - tourism, agriculture, IT and telecommunications, textile industry, food industry, manufacture of automobile parts and real estate business.
Prices in Bulgaria
In Bulgaria all prices are very low. Here we give some examples for money-saving goods and services:
- Porcelain jacket at the dentist €80
- Plastic and cosmetic surgery is 2 til 4 time cheaper than EU
- Glasses, including the frames €30
- Gold jewels €11-12 per gram
- Oil painted portrait €40
- Jeans €25-50
- Natural leather clothes €130-215
- Main course at a resturant €5-10
- Shopska salad €1,25
- A big draft beer at a restaurant €0,5-1,2 ; 2 liters of beer in a shop €1
- 1 cup of coffee €0,2-0,6
- Alcohol (750ml) €3-4
- Cigarettes €1-1,4 kr for a box
