Bulgaria

Bulgaria has been a member of the European Union (EU) since 2007, benefiting from a stable political environment and a strategic geographical location. The country's economy has made significant strides in recent decades, positioning it as an attractive destination for foreign investment.

Bulgaria's economy is diverse, with key sectors including services, industry, and agriculture. The fastest-growing sector is IT and outsourcing, drawing international companies to set up operations in the country. Other promising industries include automotive, energy, and tourism.

Bulgaria

Key Data

Capital: Sofia

Population: 6.7 million

Currency: Bulgarian lev (fixed exchange rate to the euro 1 EUR = 1.95583 BGN)

Main cities: Sofia (capital), Plovdiv, Burgas, Varna, Ruse, Stara Zagora

Economic Data

Unemployment rate (2023): 4.3%

Inflation rate (2023): 9.5%

GDP growth (2023): 1.8%

GDP (2023): BGN 183.7434 billion (EUR 93.947 billion)

GDP per capita (2022): €13,271

VAT rates: 20% (standard rate), 9%

Minimum wage (2024): BGN 933

Interesting Facts about Bulgaria

The Bulgarian state was founded in 681 and has never changed its name.

The official alphabet is Cyrillic, created in the 9th century. Today, it is used not only in Bulgarian but also in Belarusian, Macedonian, Russian, Serbian, and Ukrainian. Interestingly, it is also the official script for some non-Slavic languages, such as Aleut, Kazakh, Kyrgyz, Tatar, and others.

Musala, the highest peak in Bulgaria at 2,925.40 meters, is also the tallest on the Balkan Peninsula and the sixth highest in Europe.

Bulgaria ranks third in Europe for the number of archaeological monuments, after Italy and Greece.

Plovdiv is the oldest city in Europe and the fifth oldest in the world.

Bulgaria produces over 80% of the world's rose oil.

The world’s first digital wristwatch was developed by Bulgarian inventor Petar Petrov.

The oldest known treasure in the world, the Varna Golden Treasure, was discovered in Bulgaria and includes over 3,000 gold items.

Bulgaria is home to more than 200 mineral springs.