Bulgarian economy

Economic development under the rule of the Ottoman Empire (1396–1878)

The result of the Turkish conquest was the devastation of the Bulgarian kingdom and the death of hundreds of thousands of Bulgarians. Only in the 1450s did the situation stabilize ^[1] .

On the lands of the Bulgarian kingdom, Rumelia's Beylerbury was formed with its capital in Edirne (later moved to Sofia), they were managed by Turkish officials ^[1] . All land was declared Turkish property, while some of the land was taken into possession of Turkish feudal lords - Sipahs . In the XV — XVI centuries. a third of the lands went into the personal property of the Sultan (it was the so-called " Sultan Khas ") ^[10] . In addition, the tenure of Muslim clergy is formed from vacuus lands ^[11] .

In addition to the payment of feudal rent (which included mining and tithe “ ushar ” in kind), peasants were obliged to pay taxes to the state treasury and one-time, so-called “emergency” fees and payments ^[10] .

The entire Christian population from the age of 14 was obliged to pay an additional tax - " jizzu " ^[1] , in addition, in 1395-1705. it paid the “blood tax” ( devshirme ), sending the boys to serve in the Janissaries corps ^[1] .

In the second half of the 16th century, the crisis of the military-prison system of land tenure and the development of commodity-money relations began ^[10] .

At the end of the 18th century, deliveries of agricultural products to the foreign market began (including in France and England), as a result, in agriculture, instead of mining , quitrents (“ Kesim ”), monetary rent and shareholding are spread ^[10] .

In the XIX century, the first textile and metalworking manufactories appeared ^[11] .

In the 1830s, as a result of the agrarian reform, the military-military land tenure system was canceled ^{[10] [11]} .

In 1834, the first factory-type enterprise was opened in the city of Sliven in Bulgaria - the cloth factory Dobri Zhelyazkova ^{[11] [12]} .

After the peasant uprising of 1850 in the Vidinsky district, the lands of Turkish landlords began to be transferred to the peasants for ransom ^[11] .

The development of capitalist relations in Bulgaria began after the end of the Crimean War , in accordance with the terms of the Paris Peace Conference of 1856, access was made to the goods of Western countries in the Ottoman Empire . During this period, the Bulgarian economy was colonial in nature, industry was undeveloped ^[13] . Penetration of imported goods contributed to the development of trade, but worsened the situation of artisans ^[11] .

In 1856, in the area of ​​the village of Chukurovo , brown coal mining began ^[14] .

The law of 1858 officially confirmed the right of peasants to own land ^[11] .

In 1867, holders of waqf lands were allowed to transfer land allotments by inheritance ^[11] .

As of 1878, in Bulgaria there were 43 mills and 19 other small industrial enterprises ^[13] .

Economy of the Bulgarian kingdom

After the Russo-Turkish war , when Bulgaria was liberated from the rule of the Ottoman Empire, there was a redistribution of property and land in favor of the Bulgarian peasants ^[10] . After 1878, the workshop organization of production was canceled, the development of the textile, leather, ceramic and food industries began ^[12] .

After the unification of Bulgaria in 1885-1886. and the disappearance of the customs border with Eastern Rumelia, a situation is developing in the country that contributed to the strengthening of the economy and the development of industry: in 1885-1894. 87 factories and industrial enterprises were opened ^[12] .

In 1894, a law was passed on the promotion of industrial production, in 1895-1899. 36 more industrial enterprises were opened ^[12] . Nevertheless, by the beginning of the 20th century, industry in Bulgaria was undeveloped, it consisted of only a few large enterprises ( arsenals in Sofia , a shipyard in Burgas, railway depots in Sofia, Rousse and Burgas) and a number of small semi-artisan enterprises ^[1] .

At this time, the process of cooperation began in agriculture, by 1907 there were 400 peasant cooperatives in the country ^[1] .

In 1911, there were 345 industrial enterprises in the country. Since the beginning of the 20th century, the penetration of foreign capital into the Bulgarian economy, primarily Austrian, French and German, has intensified: in 1905, foreigners owned 75 industrial enterprises, in 1911 - 172 enterprises (35% of the chemical industry, 71% of the coal industry and 96% electric power industry) ^[12] .

After the start of the Balkan War , on October 10 (23), 1912, the Bulgarian government stopped the free exchange of banknotes for gold coins.

On July 12, 1914, the German banking concern Disconto-Gesellschaft granted Bulgaria a loan of 500 million francs, according to which the Bulgarian government accepted an obligation to spend 100 million francs from the loan received by placing a military order at German and Austro-Hungarian enterprises; lenders received the right to build the Mikhailovo-Haskovo-Lagos railway and harbor in Lagos, as well as a free concession for the operation of coal mines in Pernik and Bobov-dol. In general, after deductions for interest payments, repayment of old loans and payment of new orders, about 50 million francs (about 10% of the loan amount) should have come to the treasury ^[15] . As a result, the German influence on the country's economy increased significantly ^[12] .

On September 3, 1915, representatives of the governments of Bulgaria and Turkey initialed, and on September 6, 1915, they signed an agreement on correcting the border, according to which Turkey transferred Bulgaria the Dimotika region in Western Thrace, along which the Svilengrad - Dedeagach railway passed ^[16] .

On October 1 (14), 1915, Bulgaria entered the First World War on the side of the Central Powers. Bulgaria expanded its territory: on the territory of Serbia occupied by Bulgarian troops east of the Morava River, the Governor-General of Pomorie was created, and on the lands of Vardar Macedonia - the Macedonian Governor-General. On April 1, 1916, Bulgaria signed an agreement with Austria-Hungary on the temporary demarcation of the occupation zones in Kosovo and Metohija ^[17] .

However, the continuation of the war caused a deterioration in the economic situation in the country. Fulfillment of military orders involved 20% of all industrial and industrial enterprises in Bulgaria ^[18] . The Germans and Austrians exported from Bulgaria goods, food, agricultural products (grain, leather, wool ...) and raw materials, paying depreciating paper money ^[18] , and in the territories of Serbia, which were under the control of the Bulgarian military administration, carried out direct requisition. The Bulgarian government was forced to transfer the Plakalnitsa copper mines located near the village of Eliseino to the Germans. In addition, the Nisch-Skople and Nisch-Sofia railways were transferred under German control ^[19] .

In December 1915, the Radoslavov government officially authorized the acceptance of German paper stamps as a means of payment ^[18] .

At the beginning of 1916, Germany and Austria-Hungary created a “joint trading company in the East” (later renamed the German-Austro-Hungarian Trade Community), which was granted a monopoly on procurement in Bulgaria ^[18] .

In early 1918, Germany stopped providing financial assistance to Bulgaria ^[20] .

The defeat in World War I caused a deterioration in the economic situation of Bulgaria. At the end of 1917 and in 1918, hunger riots took place in Plovdiv, Sliven and Gabrov ^[10] .

On June 28, 1919, the Treaty of Versailles was signed, in accordance with the terms of which Germany annulled all previously concluded treaties and agreements of a trade and economic nature with Bulgaria ^[21] . On November 27, 1919, the Neuilly Treaty was signed, according to which Bulgaria lost a number of territories and assumed obligations to pay reparations to the countries of the Entente .

In 1920, Prime Minister A. of Istanbul began economic reforms:

• On May 28, 1920, the law on labor service was adopted ^[10] .
• On July 6-8, 1920, the Progressive Income Tax Act was passed ^[10] .
• On June 25, 1921, a law on labor land ownership was adopted, which established the maximum amount of land ownership in the amount of 30 hectares ^[10] .

In June and September 1923, peasant uprisings took place in the country ^[10] .

In 1923, the Entente countries found that Bulgaria was not able to pay reparations, so it was decided that in the next 50 years, before 1983, Bulgaria should pay 550 million gold francs, and then proceed to pay the remaining amount in the amount of 1,700 million gold francs . Nevertheless, reparation payments were very high (in the fiscal year 1925-1926 they amounted to 17.4% of the state budget) ^[22] .

In 1924, the first automobile industry enterprise was created in the city of Orhaniye , which produced small-scale assembly of cars on the chassis of Italian "fiats" ^[23] .

In 1925-1926 in Bozhurishte , the first aircraft factory was built - DAR ( Darzhavna aeroplana a laborer ).

Subsequently, at the turn of the 1920s-1930s, the global economic crisis of 1929-1933 further complicated the economic situation in the country.

In the 1920s-1930s, the development of political, trade and economic ties with Germany began, which intensified significantly after the military coup of May 19, 1934 ^[24] .

At the end of 1934, Germany's share was 40.5% of imports and 42.7% of Bulgaria's exports ^[25]

On July 31, 1938, Thessaloniki agreements were signed, according to which from August 1, 1938, restrictions on the increase in the army were lifted from Bulgaria ^[12] . Subsequently, the Bulgarian government increased military spending and began the development of the military industry.

• in 1938, it was decided to build an aircraft factory in the city of Lovech, in 1939, with the participation of Polish engineers, the construction of the DFS aircraft factory ( Darzhavnata Aircraft Factory ) was started here, which began work in 1941.

As of 1939, Bulgaria was a backward agricultural country with an underdeveloped industry (agriculture, which was dominated by small landowners with plots of less than 10 hectares, provided 65% of the national income) ^[26] . 79.8% of the able-bodied population was employed in agriculture and forestry, 8.2% of the able-bodied population in industry. At the same time, 79% of all industrial enterprises were enterprises of light (food, tobacco and textile) industries ^[13] .

In 1939, Germany's share was 65.5% of imports and 67.8% of exports of Bulgaria ^[25] , under the control of German concerns was the extraction of zinc , lead and other non-ferrous metals ^[27] , to German banks and Todt, “ German Goering ”,“ I. G. Farbenindustrii ”,“ AEG ”,“ Siemens ”,“ Balkantabak ”,“ Reemstma ”owned shares of many Bulgarian enterprises ^[28] . The German " Dresdner Bank " absorbed the Bulgarian Commercial Bank ^[29] . Italy took second place after Germany (in 1939, Italy's share was 6.8% of imports and 6.1% of Bulgaria's exports) ^[30]

On January 5, 1940, the Bulgarian government entered into a trade agreement with the USSR ^[12] , but economic cooperation was short-lived (it stopped after the start of World War II).

In June 1940, the Directorate of Foreign Trade was established under the Government of Bulgaria, which dealt with trade and economic cooperation with the Third Reich . At the same time, Germany transferred settlements in trade with Bulgaria to clearing agreements, which corresponded to the interests of Germany, but increased the costs of Bulgaria.

Also in 1940, the Directorate of Civil Mobilization was created under the Ministry of War, and the development of the first mobilization plan for the development of the economy for 1942-1943 began, which included an increase in agricultural production, the development of the chemical industry and the construction of enterprises for the production of synthetic rubber ^[31] .

On April 24, 1941, Bulgarian Foreign Minister Ivan Popov and German diplomat Karl Klodius signed a secret agreement between Germany and Bulgaria (the “ Klodius-Popov Treaty ”), according to which the Third Reich received the right to develop deposits and mining in Bulgaria, and Bulgaria committed pay the debts of Yugoslavia before the Third Reich and incur the costs of maintaining German troops in Bulgaria ^[32]

• in 1939-1944 indirect taxes in the country increased 2.4 times, direct taxes - more than 5 times, as a result of inflation, the situation of wide sections of the population worsened ^[28] ;
• the damage caused to the Bulgarian economy as a result of the export of food and other goods to Germany by the end of 1941 amounted to 7.4 billion leva; By the end of 1942 - 13.4 billion leva; By the end of 1943 - 20.3 billion leva; by September 1944 - 28.2 billion leva ^[12] .

Bulgaria's German foreign debt by September 1944 amounted to 70 billion leva ^[33] .

Economy of the People's Republic of Bulgaria (1946-1990)

In October 1944, the command of the 3rd Ukrainian Front provided Bulgaria with a sowing campaign of 595 tons of fuel and oil products ^[34] (300 tons of kerosene, 200 tons of gasoline, 80 tons of gasoline and 15 tons of engine oil) ^[35] . In addition, several vessels were handed over to the shipping company in Ruse, and military personnel and equipment of the 3rd Ukrainian Front took part in the restoration of railways and bridges ^[36] .

In January 1945, the USSR provided Bulgaria with 2,065 tons of fuel for the merchant fleet and 800 tons of cotton for textile enterprises (which were threatened with closure due to the cessation of raw material supplies) ^[34] .

On March 14, 1945, the first agreement on trade and economic cooperation between Bulgaria and the USSR was concluded, according to which the USSR began supplying cotton, oil products, metal, metal products and agricultural implements to Bulgaria ^[13] . Only until the end of 1945 Bulgaria received from the USSR 104.3 thousand tons of fuel and oil products, 45 thousand tons of metal, 11.8 thousand tons of chemicals, 22 thousand tons of medicines, 30 830 units of agricultural machinery and agricultural equipment, 200 electric motors ^[34] .

• In addition, Soviet troops assisted in the spring sowing campaign in April - May 1945: they plowed 15 thousand hectares and sowed 4,540 hectares of arable land ^[37] .

In the spring of 1946, the Bulgarian government asked the United States to provide a loan of $ 10 million, but the US government refused to provide a loan "for political reasons and due to the uncertain financial situation of Bulgaria" ^[38]

In August 1946, the USSR granted a loan to the Bulgarian People’s Bank in the amount of $ 500 thousand for the purchase of ships ^[35] .

On September 15, 1946, the People’s Republic of Bulgaria was formed , with an economy based on (as in other socialist countries) a planned economy .

Nationalization of the land was not carried out. Part of the land confiscated from landowners or wealthy peasants was sold at preferential prices, a significant part of the land fund was kept in private ownership.

• 15 сентября 1944 года была национализирована собственность, принадлежавшая Третьему рейху, германским компаниям и германским гражданам ^[39] (в общей сложности, 159 предприятий и фирм с общим капиталом более 2 млрд левов). Позднее, были национализированы 146 предприятий, конфискованные у военных преступников и коллаборационистов ^[40] .
• 24 декабря 1947 года был принят закон о национализации промышленности и шахт, в собственность государства перешли 93 % промышленных предприятий (в частной собственности остались 5 % промышленных предприятий, в кооперативной собственности — 2 % промышленных предприятий), а также объекты промышленной инфраструктуры: железные дороги, почта, радио, телеграф, телефон и электростанции (ранее, госсектор составлял 6 % экономики) ^[13] ;
• 26 декабря 1947 года были национализированы банки ^[13] ;

На всех частных предприятиях был введен рабочий контроль и равный уровень оплаты для мужчин и женщин.

В 1946 г. объём производства промышленной продукции на 15,2 % превысил уровень 1939 года ^[13] . В конце 1947 г. была проведена денежная реформа . Однако сохранился сектор кустарных и кооперативных предприятий, почти многоукладность в экономике.

1-й двухлетний план восстановления и развития (1947—1948)

В начале 1947 года был разработан, а 1 апреля 1947 года — утверждён первый двухлетний план послевоенного восстановления и развития экономики на 1947—1948 годы, предусматривавший развитие промышленности. В результате, в конце 1948 года объём промышленной продукции на 715 % превысил уровень 1939 года ^[13] .

В 1947 году СССР и Болгария заключили торговое соглашение, в соответствии с которым СССР предоставил Болгарии кредит в размере 5 млн долларов ^[13] .

16 января 1948 года был заключён договор о дружбе, сотрудничестве и взаимной помощи между Болгарией и Румынией ^[12] .

18 марта 1948 года был заключён договор о дружбе, сотрудничестве и взаимной помощи между Болгарией и СССР ^[12] .

23 апреля 1948 года был заключён договор о дружбе, сотрудничестве и взаимной помощи между Болгарией и Чехословакией ^[12] .

29 мая 1948 года был заключён договор о дружбе, сотрудничестве и взаимной помощи между Болгарией и Польшей ^[12] .

16 июля 1948 года был заключён договор о дружбе, сотрудничестве и взаимной помощи между Болгарией и Венгрией ^[12] .

1-й пятилетний план развития народного хозяйства (1949—1953)

25 января 1949 года Болгария стала одним из соучредителей Совета экономической взаимопомощи . Участие в СЭВ, несмотря на имевшиеся стратегические просчеты и тактические ошибки, оказало положительное влияние на развитие экономики НРБ.

В 1949 году правительством был принят первый пятилетний план развития народного хозяйства (1949—1953) ^[13] : он предусматривал высокие темпы индустриализации , проведение электрификации, а также ускоренное развитие тяжёлой промышленности .

• в 1948—1952 гг. при содействии ЧССР были построены 15 электростанций, рудник и обогатительная фабрика на медном месторождении «Медет»; при содействии ГДР были построены несколько целлюлозно-бумажных комбинатов ^[12] .

В 1949—1952 гг. в стране были реконструированы, построены и введены в строй 700 промышленных предприятий, к 1952 году выпуск промышленной продукции в четыре раза превысил уровень 1939 года и в два раза — уровень 1948 года. В результате выполнения пятилетнего плана страна из аграрной превратилась в индустриально-аграрную ^[1] .

В сельском хозяйстве развивался кооперативный сектор: если в 1947 году трудовые кооперативы объединяли 11 % крестьянских хозяйств, то в 1952 году — более 50 % хозяйств ^[12] .

С 1951 года в стране начинают выращивать промышленные сорта винограда, количество культивируемых сортов увеличивается (к 1966 году в Болгарии выращивали 51 сорт винограда) ^[41] .

2-й пятилетний план развития народного хозяйства (1953—1957)

В сельском хозяйстве продолжалось развитие кооперативного сектора: в конце 1957 года в трудовых кооперативах состояли 86,5 % (996 тыс.) крестьянских хозяйств. В 1958 году процесс создания кооперативов был завершён ^[12] , к этому времени в ТКЗХ состояли 92 % крестьянских хозяйств ^[1] .

3-й пятилетний план развития народного хозяйства (1958—1962)

В 1958 году на машиностроительном заводе в городе Ловеч началось изготовление первых болгарских мотоциклов марки "Витоша" ^[42] .

В марте 1959 года был принят закон «О ускорении темпов народного хозяйства страны» ^[12] . В сельском хозяйстве в этот период начинается процесс укрупнения трудовых кооперативов ^[10] .

В конце 1960 года СССР предоставил Болгарии долгосрочный кредит на 650 млн рублей для строительства Кремиковского металлургического комбината и ТЭЦ «Марица-Восток» ^[12] .

With the help of the USSR, the food industry was created, whose products (tobacco and tobacco products, fresh and canned vegetables and fruits) were exported, including to the USSR.

Electricity was developing, hydroelectric power plants were being built on mountain rivers. Significant deposits of non - ferrous metals were located in the Rhodope Mountains , and metallurgy of non-ferrous metals was created on their basis. However, the engineering industry (except agricultural machinery) as the basis of industrialization has not been created. Machines for equipping the food, mining and metallurgical industries were imported from the USSR and several other countries. In 1954, the Devnensky soda ash plant was built.

By the beginning of the 1960s, the extensive development of the country had exhausted its possibilities: the influx of excess population from agriculture to industry was ending, and real growth in labor productivity slowed down. There was a need to transfer the economy to the path of intensification , that is, accelerate the pace of scientific and technological progress , increase labor productivity.

• in 1960 - 1963 The Burgas Petrochemical Plant and the first stage of the Kremikovsk Metallurgical Plant were built and commissioned.

The third five-year plan was completed ahead of schedule, in 1961.

The Fourth Five-Year Plan for the Development of the National Economy (1961-1965)

On October 22, 1963, the International Bank for Economic Cooperation was established; Bulgaria was one of the co-founders of the bank ^[43] .

In the early 1960s, in vegetable growing, the main variety of cultivated tomatoes was changed: the heterozyne tomato variety Zarya x Komet developed in the 1930s replaced the new 10-Bizon early-ripening variety developed in Bulgaria. As a result, in 1963 Bulgaria harvested a record crop of tomatoes (760 thousand tons, of which 240 thousand tons were exported) and for the first time in history took first place in the world in tomato exports ^[44] .

In the 1960s, the development of fish farming began in specialized cooperatives ^[26] . Agricultural mechanization is increasing: in 1966, workers at a research and development institute in Ruse created a facility for mechanized cleaning of wheat, rye, oats and sunflower; a machine-building plant in Haskovo mastered the production of planting-seedling machines ^[45] , and a machine for cleaning walnuts, a machine for low tobacco leaves without puncture ^[46] , etc. were also created for agriculture.

In the mid-1960s, the production of the Soviet Moskvich-408 passenger car ^[47] was mastered at the Balkan car assembly plant.

5th Five-Year Plan for the Development of the National Economy (1966-1970)

On April 6, 1967, an agreement was signed on friendship, cooperation and mutual assistance between Bulgaria and Poland ^[48] .

July 10, 1967 an agreement was signed on friendship, cooperation and mutual assistance between Bulgaria and Hungary ^[49] .

On July 21, 1967, an agreement on friendship and cooperation between Bulgaria and Mongolia was concluded, which provided for the development of economic, scientific and technical cooperation between the countries on a bilateral basis and through the CMEA.

In 1967, Bulgaria entered into an agreement on the import of wood from the USSR, which was used as raw material in the country's pulp and paper plants. Wood supplies continued until 1994 ^[1] .

On April 26, 1968, an agreement was signed on friendship, cooperation and mutual assistance between Bulgaria and Czechoslovakia ^[50] .

In agriculture, as of 1969, there were 795 labor cooperative agricultural farms (TKZH), 159 state agricultural farms (GKH) and about 80 other specialized farms ^[1] .

On July 10, 1970, the International Investment Bank was established, Bulgaria became one of the co-founders of the bank ^[51] .

The average annual growth rate of national income in 1966-1970. amounted to 8.75% ^[26] .

6th Five-Year Plan for the Development of the National Economy (1971-1975)

The average annual growth rate of national income in 1971-1975 accounted for 7.8% ^[26] .

• in 1974, the Kozloduy NPP was commissioned.

For the construction of major economic facilities, Bulgaria received loans from the USSR at 2% per annum. Payment of loans, as a rule, was made by the products of enterprises built at their expense. This helped to reduce the time needed to overcome the country's technical and economic backwardness and accelerate its economic development.

The high - tech electronic industry was developed - the IZOT plant was created, which mass-produced copies of Western-style computers, as well as the Pravets factory. Thus, Bulgaria quickly took an important place among the CMEA countries - computer manufacturers, and later was able to supply a significant part of its electronic products to the USSR. In the 1980s, especially with the advent of small and personal computers, Bulgarian memory devices and IZOT magnetic disks became especially popular among Soviet consumers.

The basis of economic cooperation between the two countries throughout the post-war period was foreign trade . Moreover, until the mid-80s, its volume grew at a rate significantly exceeding the growth of GDP and the growth of industrial production in Bulgaria. At the same time, the USSR accounted for more than half of the foreign trade turnover , the share of Bulgaria in the foreign trade turnover of the USSR was 8-10%, which allowed it to be the third foreign trade partner of the USSR.

The increase in turnover was largely associated with the processes of specialization and cooperation . They contributed to the rapid growth in the share of mechanical engineering in mutual trade: its share in Bulgarian exports to the USSR in the 1980s reached 45% (and accounted for 9% of all Soviet imports of engineering products), while in the total exports of the USSR to Bulgaria the share of machinery and equipment reached 35% Large orders of the Soviet Union were an important condition for organizing mass production of electric cars and electric hoists, some types of electronic and electrical equipment, and agricultural machinery in the NRB.

Cooperation between Bulgaria and the USSR and integration measures under the CMEA were especially important for solving the fuel and energy and raw materials problems in the NRB. For more than 50 years, at first the USSR, and then Russia, fully ensured the import needs of Bulgaria in natural gas and wood ; until the mid-80s - almost entirely in coal and electricity , 80% in oil , 87% in iron ore and a little less - in cotton . Moreover, for example, oil was supplied in such volumes that for many years it and its refined products were goods that Bulgaria re-exported to the West.

At the same time, Bulgaria participated in the co-construction of CMEA integration measures in the joint construction of facilities in the USSR: the Ust-Ilimsk Pulp and Paper Mill, the Kimbaevsky Asbestos Mining and Processing Plant, the Krivoy Rog Mining and Processing Plant of Oxidized Ores , the Orenburg-Western border gas pipeline The USSR , etc. NRB supplied machinery, equipment, materials, and consumer goods for these facilities. After the commissioning of these facilities, Bulgaria received cellulose, asbestos, iron-containing raw materials and ferroalloys, and natural gas for 12 years in accordance with its share.

The result of the policy of the CMEA countries was the further linking of the economic complex of Bulgaria with the Soviet one. The increased role of cooperation after the adoption in 1971 of the Comprehensive Program of Socialist Economic Integration of the CMEA member countries and the pursuit of an agreed policy since 1974 on the comprehensive rapprochement of the NRB with the USSR, even led to the allocation of a new special integration section in national economic plans. The Bulgarian economy has acquired a pronounced export character. At the same time, CMEA countries accounted for 84% of the Bulgarian export of products, and the share of the export component in the manufactured engineering products reached almost 60%. If we compare the economic situation in the countries of Eastern Europe in 1928 (the peak of the pre-war economic recovery) and in 1970 (the most successful period of CMEA functioning), it turns out that the share of Eastern Europe in world industrial production increased from 6.6 to 8.6% while the share of Bulgaria is from 0.1 to 0.6%.

However, many CMEA principles restrained the economic progress of the socialist camp countries. Equalization of the level of the economy of different countries led to leveling, lack of competition , low prices for goods, production inefficiencies and, accordingly, deficit . Trade was not mutually beneficial. The distribution system operated both within these countries and within the framework of the entire socialist system. For all countries participating in trade flows within the CMEA, cheap raw materials and fuel impeded the transition to resource-saving technologies, including metal-saving ones. As a result, Bulgarian export products have become characterized by a relatively low quality and technical level of products, high material consumption and, because of this, low competitiveness. This foreign economic factor, which played a positive role for quite a long time, over time turned into a brake on the Bulgarian economy. The uncompetitive products of Bulgarian enterprises, “corrupted” by the undemanding market of the CMEA countries, did not subsequently withstand the test of market relations in the new prevailing situation.

On January 1, 1988, the Government adopted the "Rules of Economic Activity", which provided for the provision of enterprises with independence in conducting economic activities ^[52]

As of 1988, Bulgaria was an industrial-agrarian country with a predominance of the public sector in the economy. The share of industry was 60% of GDP, construction - 10% of GDP, agriculture and forestry - 12% of GDP ^[53] . The growth of national income in 1988 amounted to 6.2% ^[52] . GDP growth in 1988 amounted to 2.4% ^[26] .

In 1989, for the first time since 1948, a decline in national income of 0.4% was recorded ^[26] .

Reforms 1990 - 2006

In the early 1990s , the Bulgarian government launched economic reforms aimed at creating a market economy in the country. Privatization , credit and financial sector reforms were carried out, and free pricing was established. In 1991, "decollectivization" of agriculture was carried out. The result of these reforms, despite receiving financial assistance from Western countries, was an increase in unemployment and inflation ^[54] .

In February 1992, a law on restitution was adopted ^[55] , according to which the previous owners received the right to return lands, shops, houses, workshops and small enterprises nationalized in the period after September 9, 1944.

After the collapse of the socialist states and the subsequent weakening of economic ties with the former socialist countries, already in 1990 industrial production in Bulgaria fell by 10.7%. After the dissolution of CMEA and the collapse of the USSR in 1991, in the 1990s there was a sharp decline in industrial production ^[26] . The standard of living of the population has fallen significantly ^[26] . In addition, the sanctions imposed on Yugoslavia and Iraq negatively affected the state of the Bulgarian economy.

The first signs of economic growth appeared in the mid-1990s, when GDP in 1994 grew by 1.4% (for the first time since 1988) and 2.5% in 1995 . The inflation rate, which stood at 122% in 1994, fell to 32.9% in 1995. The government promised to carry out mass privatization in January 1995, but its start was delayed.

In 1995, more than 65% of the population lived below the poverty line ^[26] .

The first phase of mass privatization began in January 1996. Later, in 1996, another crisis occurred in the economy, which led to an increase in the annual inflation rate to 311% and the devaluation of the Bulgarian lev .

In 1996, car production was discontinued in Bulgaria ^[56] .

In December 1996, Bulgaria joined the WTO .

The second and third stages of privatization were carried out in the spring of 1997. In April 1997, the Union of Democratic Forces won parliamentary elections and proposed a program of economic reforms agreed upon with the International Monetary Fund and the World Bank , which included the introduction of a mechanism for full gold and currency support.

The government reform program included the following activities:

• privatization and, in some cases, liquidation of state-owned enterprises;
• liberalization of agricultural policies, including the creation of conditions for the development of the land market;
• social insurance reform;
• strengthening the fight against crime and corruption .

In 1997, Bulgaria’s GDP amounted to 60% of the 1989 GDP ^[1] , 80% of the population lived below the poverty line ^[26] .

As a result of the privatization carried out by the government of Ivan Kostov, the state suffered significant losses. Nikola Filchev, who previously held the post of chief prosecutor of Bulgaria, said that as a result of privatization of state property worth $ 30 billion, the state treasury received only $ 3 billion. The objects to be privatized were sold at low prices - for example, the Kremikovsk Iron and Steel Works was sold at a price of $ 1 ^[57] .

In July 1998, the International Monetary Fund provided the government with a 3-year loan of $ 800 million. The loan was used to develop financial markets, finance social programs, and carry out tax and agricultural reforms.

On July 5, 1999, the national currency was denominated : the new lion replaced the 1,000 old ones.

In 1997-2001 in industry and agriculture there was a total decline; only in 2002 did the improvement of the economic situation in the country begin ^[26] . By the end of the 20th century , the service sector became dominant in Bulgaria.

In 2002, the European Commission recognized Bulgaria as a country with a market economy , but since 2002, the Bulgarian lev is pegged to the euro , its exchange rate is not market, but is set arbitrarily by the currency board with the support of the IMF (and fixed at 1.95583 leva per 1 euro) [ 30] [31] .

In 2001-2006 stable GDP growth combined with a surplus of the state budget allowed reducing the state debt of Bulgaria from 67.3 to 22.8% of GDP ^[58] .

In 2004, Bulgaria’s GDP reached 61.6 billion US dollars - 95% of the 1989 GDP ^[1] . At the end of 2004, according to the European Union, the average salary in the country was about $ 80; inflation rate - 2.3%; GDP growth - 4.3%; below the poverty line were 15–20% of the country's population ^[26] .

Joining the European Union and the 2008–2009 Economic Crisis

January 1, 2007 Bulgaria joined the European Union .

In 2007, in order to increase the competitiveness of the economy and attract investment, the Bulgarian government imposed a 10% income tax - one of the lowest in Europe ^[59] .

Starting January 1, 2008, a single income tax of 10% was established for all categories of citizens. This is one of the lowest rates in the world and the lowest rate in the EU ^[60] .

In the second half of 2008, the global economic crisis began . During the crisis, Bulgaria and Estonia were the only EU countries that did not stimulate the growth of the economy and domestic consumption and cut government spending ^[61] .

At the end of September 2008, due to the increase in natural gas prices , a three-week “gas crisis” began, according to the Bulgarian Ministry of Economy and Energy, the damage to the national economy amounted to197 million leva ^[62] .

In a 2009 report, analysts at the European statistical agency Eurostat called Bulgaria one of the “cheapest” countries in Europe, with prices 49% lower than the European average ^[63] .

At the end of 2009, Bulgaria's GDP fell by 4.9%, industrial production - by 14% ^[64] .

В период с 2003—2004 до 2010 года объём экспорта лавандового масла уменьшился примерно в три раза ^[65] .

Нестабильный уровень инфляции ставит под угрозу присоединение страны к еврозоне , хотя болгарское правительство планировало заменить лев на евро ещё в 2010 году.

Начиная с 2001 года, болгарские власти в основном стремились обеспечить экономический рост за счёт привлечения иностранных инвестиций, низких налогов, ограниченного регулирования (достигнуто только в некоторой степени) и низкой стоимости рабочей силы. Такая политика была успешной в обеспечении высоких темпов роста — более 6 % в год с 2004 по 2008 год — и роста уровня жизни, до наступления глобального экономического кризиса. Это, однако, вряд ли будет способно поднять экономику на высокий уровень квалификации, новшеств и производительности, чтобы соответствовать таковым в более развитых государствах-членах ЕС. Для того чтобы решить эту проблему, необходимо провести различные типы реформ. Во-первых, правительство должно увеличить инвестиции в исследования и инновации, и стать активным в этой области. Во-вторых, реформы необходимы в сфере образования, чтобы ограничить исключение различных, в особенности меньшинств, групп даже из базовой грамотности и адекватного участия в рынке труда, а также для содействия воспроизводству человеческого капитала адекватного качества, профиля и гибкости. В-третьих, реформировать пенсионную систему и здравоохранение, чтобы удовлетворить растущие ожидания граждан при одновременном повышении финансовой устойчивости этих систем, а также и ограничении давления, которое они оказывают на трудовые договоры. В-четвёртых, должно быть непрерывное укрепление инфраструктуры, особенно в регионах. В-пятых, необходимо увеличение поддержки росту квалификации рабочей силы, а также некоторое улучшение в гибкости трудовых договоров ^[9] .

Низкая процентная ставка обеспечивает приток иностранного капитала. С 2003 года отмечается бум на рынке недвижимости . С 2003 по 2007 год особой популярностью пользовались проекты экономкласса, но уже в начале 2007 года компании Propertylimit, Dinevi Group и Yoo начали реализацию проектов премиум-класса. Годовой уровень инфляции нестабилен и в течение пяти лет (2003—2007) колебался от 2,3 % до 7,3 %. ^[66] Валовой внутренний продукт на душу населения по ППС в 2007 году составлял только приблизительно одну треть от среднего уровня в EU25 , в то время как номинальный валовой внутренний продукт на душу населения — приблизительно 13 %.

В 2010 году Евросоюз выступил с инициативой введения запрета на выращивание в Болгарии ориентального табака — такой же знаковой сельхозкультуры Болгарии, как масличная роза и винные сорта винограда. Принятие подобного регламента Евросоюзом очень плохо отразится на целых районах Болгарии, где ориентальные табаки являются основным промыслом на протяжении многих столетий. Речь идёт в основном о горных районах, где почва очень бедна, а это означает, что альтернативы этой культуре там нет. В этих местах целые сёла существуют благодаря возможности выращивать мелколистный ориентальный табак, который нельзя подвергать технической обработке. В этом секторе занято более 200 тысяч человек ^[67] .

Согласно данным Евростата (январь 2015 г.), в Болгарии самый низкий уровень минимальной зарплаты среди стран ЕС — 184 евро ^[68] .

22 октября 2014 года согласно рекомендации Парижского клуба правительство Болгарии списало 83,8% долга Афганистана (который был уменьшен с 50,626 млн. долларов до 8,201 млн. долларов США) ^[69] .

С 1990 года произошли значительные изменения во внешнеторговой политике страны. Вместо стран бывшего Совета экономической взаимопомощи основными торговыми партнёрами страны стали страны EC , хотя импорт нефти из России всё ещё оставляет Россию основным торговым партнёром Болгарии.

Согласно данным книги фактов ЦРУ ^[70] объём экспорта за 2017 год - 32 млрд. долл, объём импорта за 2017 год - 36,3 млрд. долл. Основные торговые партнеры (в 2017 году) по экспорту - Германия 13.5%, Италия 8.3%, Румыния 8.2%, Турция 7.7%, Греция 6.5%; по импорту - Германия 12.3%, Россия 10.3%, Италия 7.3%, Румыния 7.1%, Турция 6.2%, Испания 5.3%. В экспорте преобладают текстильные и продовольственные товары, сталь, железная руда, машины и оборудование, вина, табак и табачные изделия; в импорте - продукция машиностроения, цветные металлы и сплавы, химикаты, нефть и другое сырье.

Страна ориентирована на интеграцию с государствами — членами Европейского союза и собирается присоединиться к еврозоне .

В начале 1990-х медленные темпы приватизации , высокие налоги и бюрократические препоны препятствовали притоку инвестиций в страну. Общая величина иностранных инвестиций с 1991 года по 1996 составила 831 млн долларов. Но уже с 1997 года объём инвестиций в страну значительно увеличился((уточнить)).

С 2001 года Болгарии удалось привлечь значительные объёмы прямых иностранных инвестиций ^{[ specify ]} .

Общий объём иностранных инвестиций, полученных Болгарией в период до 2004 года составил 2,5 млрд долларов США ^[1] .

В 2004 году иностранными инвесторами в экономику Болгарии было вложено более чем 2,72 млрд евро (3,47 млрд долларов США). В 2005 году произошло снижение объёма инвестиций до 1,8 млрд евро (2,3 млрд долларов США), который объясняется окончанием приватизации крупных компаний. После присоединения к ЕС приток инвестиций в страну опять вырос, в 2007 году общий объём иностранных инвестиций оценивается приблизительно в 6 млрд евро.

Инвесторы, вложившие 511 292 евро в правительственные облигации на 5 лет, имеют право на получение гражданства Болгарии.

Валовой внутренний продукт: 42,0 млрд евро (2014) ^[71]

Валовой внутренний продукт по ППС: 128,63 млрд долл. (МВФ, 2014 ^[72] )

Валовой внутренний продукт на душу населения: 5833 евро. (2014) ^[71]

Валовой внутренний продукт на душу населения по ППС : 17860,31 долл. (МВФ, 2014 ^[72] )

Темп прироста промышленного производства: 1,7 % в год (2014) ^[71]

Распределение доходов между наиболее бедными и наиболее богатыми домохозяйствами:

• наиболее бедные 10 %: 2,9 %
• наиболее богатые 10 %: 25,4 %

Дифференциация доходов — Индекс Джини : 0,316 (2005)

Индекс развития человеческого потенциала : 0,824 (2005) ^[73]

Уровень безработицы : 10,4 % (2011), 10,7 % (2014) ^[71]

Платёжный баланс в % к ВВП: 0,9 % (2014) ^[71]

Внешнеторговый баланс : −3,4 млрд евро (2014) ^[71]

Золотовалютные резервы: 16,6 млрд евро (2014) ^[71]

Государственный долг в % к ВВП: 27,6 % (2014) ^[71]

Государственные расходы на образование: 4,6 % ВВП (2004) ^[73]

Государственные расходы на образование: 4,2 % ВВП (2005) ^[73]

Военные расходы: 2,4 % ВВП (2005) ^[73]

Государственные расходы на обслуживание долга: 21,7 % ВВП (2005) ^[73]

Источники энергии по видам

• ископаемое топливо: 47,8 %
• гидро: 8,1 %
• атомная: 44,1 %
• другие виды: 0 % (2001)

Oil

• добыча: 3000 баррелей в день (2005, по приблизительным оценкам)
• потребление: 131 400 баррелей в день (2005, по приблизительным оценкам)
• экспорт: 51 000 (2005, по приблизительным оценкам)
• импорт: 138 800 (2004, по приблизительным оценкам)
• подтверждённые запасы: 2,4 млн тонн (на 1 января 2006)

Natural gas

• добыча: 407 000 м³ (2005, по приблизительным оценкам)
• потребление: 5,179 млрд м³ (2005, по приблизительным оценкам)
• экспорт: 0 м³ (2005, по приблизительным оценкам)
• импорт: 5,8 млрд м³ (2005)
• подтверждённые запасы: 5,703 млрд м³ (на 1 января 2006, по приблизительным оценкам)

Electric power

• производство: 430 млн кВт*ч (1946) ^[13] ; 45 млрд кВт*ч (1988) ^[53] ; 45,7 млрд кВт*ч (2006)
• потребление: 37,4 млрд кВт·ч (2006)
• экспорт: 7,8 млрд кВт·ч (2006)
• импорт: 0 кВт·ч (2006)

Самая большая проблема (как и в других странах новых членов ЕС), увеличивающийся с каждым годом дефицит трудоспособной рабочей сила, и рост количества пенсионеров, в связи с низкой рождаемостью и высокой эмиграцией населения в другие, более богатые, страны ЕС, что в свою очередь заставляет работодателей больше платит своим работникам, тем самым искусственно повышая зарплаты, что приводит к дисбалансу между производительностью и размером заработной платой. Особенно сложная ситуация с растущим демографическим кризисом во многих развивающихся странах Европы и Азии: Болгарии, России, Китае, Украине, Молдове, Таиланде, и т.д. В этих стран обычный демографический кризис свойственный развитым странам усугубляться, часто ещё большим уменьшением официально работающей доли трудоспособного населения, в связи с обширной неформальной, теневой экономикой, ещё более низкой рождаемостью, ещё большей безработицей, ещё большем ростом пенсионеров в связи с меньшими здоровыми годами активной трудоспособной жизни, что вкупе с активной эмиграции молодого, экономически активного и самого трудоспособного населения в более богатые страны мира, приводит к замедлению экономического роста стран, и как следствия к замедлению роста зарплат и уровня жизни в странах, что в свою очередь замедляет сближение уровня жизни в развивающихся странах к уровню жизни развитых. ^{[74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [91] [92] [93] [94] [95]} Богатые развитые страны Европы и Азии, часто решают проблему демографического кризиса, просто увеличивая квоты на ввоз большего числа иностранной рабочей силу, что в свою очередь бедные, экономические не привлекательный, как для квалифицированной, так и не квалифицированной иностранной рабочей силы, развивающиеся страны себе позволить не могут. Как пример, экономика Болгарии может столкнуться с широко обсуждаемой проблемой, Болгария может постареть быстрее, чём её население разбогатеет, что может привести к замедлению роста уровня жизни в Болгарии и сближения её по зарплатам с другими развитыми и богатыми экономками Азии и Европы: Японией, Республикой Корея, Китайской Республикой, Швейцарией, Германией, Францией, Норвегией, Словенией и т.д. В худшем случае это может привести к экономическому застою, подобному японскому, наблюдаемому в Японии уже два десятилетия. Но с учётом, что Япония является экономически развитой, богатой страной, с высокими зарплатами, а Болгария лишь развивающейся.

Минимальный размер оплаты труда в Болгарии в 2017 году составлял 460 левов (235 евро), с 1 января 2018 года - 510 левов (260 евро). Средний размер оплаты труда в Болгарии в 2018 году составлял 1123 лев (574 евро). С 1 января 2019 года минимальный размер оплаты труда составляет 560 левов (брутто, около 286.34 евро) и 434.55 левов (нетто, 222.17 евро). ^[96] Индекс Кейтца (соотношение между минимальной и средней заработной платы в стране) в Болгарии по состоянию на 2019 год (средняя 1135 левов и минимальная 560 левов ^{[97] [98]} ) составляет около 49%.

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• d / f “Bulgartabak” - ATN television movie from the series “The Fate of the Giants”