Bulgaria is a former Communist country that entered the EU on 1 January 2007. It is an open free market economy with a well developed private sector and a number of strategic state-owned enterprises. According to the World Bank, in 2006 Bulgaria attracted the highest levels of foreign direct investment, as a share of GDP, among Eastern European countries. In early 2007, to attract additional foreign investment, the Bulgarian Government lowered corporate tax rates to 10%, reportedly the lowest rate in Europe. A flat-tax rate of 10% for personal income, in place as of January 1, 2008, has helped to bring down domestic labor costs and reduce the share of the "gray" economy. In response to local governments' demand for financial independence in 2006, parliament passed fiscal decentralization of municipalities, granting them authority over collection and administration of some taxes, thus further enhancing local economic stability.

The 2007-2009 global financial and economic crises erased many of the gains attributed to conservative fiscal policies and tax reforms. After 10 years of steady growth, Bulgaria's economy fell into recession in the fourth quarter of 2008, causing an increase in both unemployment and household debt. The new government responded with an 82-point "anti-crisis" plan to maintain fiscal stability and promote economic recovery. The government also committed itself to strengthening control over EU funds and fighting organized crime and corruption.

Labor force:
3.2 million (2009 est.)
country comparison to the world: 98

Labor force by occupation:
agriculture: 7.5%
industry: 36.4%
services: 56.1% (2008 est.)

Unemployment rate:
9.1% (2009)
country comparison to the world: 102
6.3% (2008)

Population below poverty line:
14% (2008)

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 24.1% (2008)

Distribution of family income – Gini index
29.8 (2008)
country comparison to the world: 114
26.4 (2001)
Investment (gross fixed)
25% of GDP (2009 est.)
country comparison to the world: 44

Budget:
revenues: $18.4 billion
expenditures: $18.9 billion (2009 est.)

Public debt:
14.7% of GDP (2009)
country comparison to the world: 114
14.1% of GDP (2008)

Inflation rate (consumer prices):
1.6% (2009)
country comparison to the world: 55
7.2% (2008)
Central Bank discount rate:
0.55% (31 December 2009)
country comparison to the world: 77
5.77% (31 December 2008)

Commercial bank prime lending rate:
10.86% (31 December 2008)
country comparison to the world: 91
10% (31 December 2007)

Stock of money:
$12.63 billion (31 December 2009)
country comparison to the world: 46
$13.84 billion (31 December 2008)

Stock of quasi money:
$20.61 billion (31 December 2009)
country comparison to the world: 46
$17.99 billion (31 December 2008)

Stock of domestic credit:
$33.19 billion (31 December 2009)
country comparison to the world: 58
$31.04 billion (31 December 2008)

Market value of publicly traded shares:
$9.46 billion (31 December 2008)
country comparison to the world: 67
$14.29 billion (31 December 2007)
$10.32 billion (31 December 2006)

Agriculture-products:
vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock

Industries:
electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel

Industrial production growth rate:
-14% (2009 est.)
country comparison to the world: 153

Electricity – production:
44.83 billion kWh (2008)
country comparison to the world: 51

Electricity – consumption:
29.9 billion kWh (2008)
country comparison to the world: 59

Electricity – exports:
5.407 billion kWh (2008)

Electricity – imports:
3.097 billion kWh (2008 est.)

GDP (purchasing power parity)
$90.51 billion (2009 est.)
country comparison to the world: 72
$95.17 billion (2008 est.)
$89.7 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate)
$45.3 billion (2009 est.)

GDP (real growth rate)
-4.9% (2009 est.)
country comparison to the world: 189
6.1% (2008 est.)
6.2% (2007 est.)
GDP (per capita)
$12,600 (2009 est.)
country comparison to the world: 89
$13,100 (2008 est.)
$12,200 (2007 est.)
note: data are in 2009 US dollars

GDP (composition by sector):
agriculture: 7.5%
industry: 27.6%
services: 64.9% (2009 est.)

Oil - production:
3,357 bbl/day (2008 est.)
country comparison to the world: 100

Oil - consumption:
124,000 bbl/day (2008 est.)
country comparison to the world: 72

Oil - exports:
76,570 bbl/day (2007 est.)
country comparison to the world: 71

Oil - imports:
189,000 bbl/day (2007 est.)
country comparison to the world: 50

Oil - proved reserves:
15 million bbl (1 January 2009 est.)
country comparison to the world: 83

Natural gas - production:
218 million cu m (2008)
country comparison to the world: 74
Natural gas - consumption:
3.35 billion cu m (2008)
country comparison to the world: 71

Natural gas - exports:
0 cu m (2008)
country comparison to the world: 199

Natural gas - imports:
3.48 billion cu m (2008)
country comparison to the world: 38

Natural gas - proved reserves:
5.663 billion cu m (1 January 2009 est.)
country comparison to the world: 88

Current account balance:
-$5.812 billion (2009 est.)
country comparison to the world: 169
-$12.65 billion (2008 est.)

Exports:
$16.23 billion (2009 est.)
country comparison to the world: 68
$22.71 billion (2008 est.)
Exports - partners:
Greece 9.8%, Germany 9.1%, Turkey 8.9%, Italy 8.5%, Romania 7.2%, Belgium 5.8%, France 4% (2008)

Exports - commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels

Imports:
$23.27 billion (2009 est.)
country comparison to the world: 63
$35.64 billion (2008 est.)

Imports - commodities:
machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials

Imports - partners:
Russia 14.6%, Germany 11.8%, Italy 7.9%, Ukraine 7.3%, Romania 5.6%, Turkey 5.5%, Greece 5.4%, Austria 4.1% (2008)

Reserves of foreign exchange and gold:
$17.68 billion (31 December 2009)
country comparison to the world: 42
$17.45 billion (31 December 2008)

Debt - external:
$49.28 billion (31 December 2009 est.)
country comparison to the world: 50
$51.46 billion (31 December 2008)
Stock of direct foreign investment – at home:
$47.31 billion (31 December 2009 est.)
country comparison to the world: 51
$42.91 billion (31 December 2008 est.)

Stock of direct foreign investment – abroad:
$1.392 billion (31 December 2009 est.)
country comparison to the world: 64
$1.292 billion (31 December 2008 est.)

Exchange rates:
leva (BGN) per US dollar - 1.4352 (2009), 1.3171 (2008), 1.4366 (2007), 1.5576 (2006), 1.5741 (2005).