A total GDP of 163 billion Usd the 81th of the world
Total GDP per Capita 9,080 Usd the 75nd of the world
Bulgaria has an open, upper middle income range market economy.
The private sector accounts for more than 70% of GDP.[ priorities.
The loss of the common eastern European markets in 1990 and the subsequent “shock therapy” of the planned system caused a steep decline in industrial and agricultural production, ultimately followed by an economic collapse in 1997.
The economy largely recovered during a period of rapid growth several years later, but the average salary of 1,036 leva ($615) per month remains the lowest in the EU. More than a fifth of the labour force are employed on a minimum wage of $1.16 per hour.
Bulgaria has some of the lowest corporate income tax rates in the EU at a flat 10% rate. The tax system is two-tier. Value added tax, excise duties, corporate and personal income tax are national, whereas real estate, inheritance, and vehicle taxes are levied by local authorities.
Strong economic performance in the early 2000s reduced government debt from 79.6% in 1998 to 14.1% in 2008. It has since increased to 28.7% of GDP by 2016, but remains the third lowest in the EU.
The Yugozapaden planning area is the most developed region with a per capita gross domestic product (PPP) of $26,580 in 2016. It includes the capital city and the surrounding Sofia Province, which alone generate 42% of national gross domestic product despite hosting only 22% of the population.
The cost of living in Bulgaria stood at only 49 and of the EU average.