Bulgaria has undergone a significant transformation over the past three decades. It has transformed from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the EU.
Bulgaria’s economic recovery continued in 2016 and supported improved fiscal performance but the medium-term outlook remains challenging. Stronger growth and improvements in the labor market have contributed to poverty reduction. Further gains in growth, poverty reduction and shared prosperity would hinge on strengthening institutions, boosting the skills and employability of the labor force, and improving the effectiveness and efficiency of public spending. Read more...