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Bulgarian industries & economy - Coggle Diagram
Bulgarian industries & economy
Periods
Socialism era
industrialization is continued
modernized roads
airline transportation
tourism along the Black Sea coast and in the mountains
Internal political stability.
1987 - the economy contracted - worsened
Post Socialism (1990s)
dramatically worsening economic conditions
highly centralized → open economy
protests against the government
huge inflation
the 90s were called "the lost decade"
1888-1945
Recovery, the economy is directly connected to Germany
2000-2008
inequality in salaries
2010-2020
Positives:
positive GDP growth was repaired
lowest public debt
wage growth since 2019.
unemployment rate in 2019 - 4.2% - close to other European countries
Negatives:
Big problem since the late 1990s is corruption: kickbacks, bribes, funding of political parties
annual inflation by 1.9%
Demographic emigrant crisis impact
health
university education
high-tech sector
Sectors in Bulgarian economy
Primary: 5.1%
Secondary: 27.5%
Tertiary: 67.4%
Trading
Partners: Russia, Germany, China, EU countries, Turkey
Imports: petroleum oils, copper, medicaments, motor cars
Exports: petroleum oils, refined and unrefined copper, medicaments, wheat, rose oil
GDP
Nominal: 66,250 billion dollars
Per Capita: 12,221.50 USD (2021)
Why does the per capita GDP rank higher?
Because we have a small population.
Corruption
12% of businesses in Bulgaria had asked for a bribe of some sort in exchange for a permit
48% of businesses in Bulgaria didn't agree that people and businesses caught for petty corruption were appropriately punished
75% of businesses in Bulgaria didn't agree that people and businesses caught for bribing a senior official were appropriately punished
70% of businesses in Bulgaria didn't agree that people and businesses engaged in corruption would face charges and go to court?
85% of businesses in Bulgaria saw corruption as widespread in the country
51% of businesses in Bulgaria saw corruption as a problem
The top 3 forms of corruption that businesses noted in a survey are kickbacks, bribes, and funding of political parties
12% of businesses in Bulgaria had asked for a bribe of some sort in exchange for a permit