General Information

Bulgaria is a small open economy, as many other European countries in the region. The national currency is Bulgarian Lev (BGN) and it is pegged to the EUR at the rate of 1.96. The GDP per capita is 7.392 USD (nominal) as of 2017, the growth in GDP is 3.8% for 2017 and the Gini coefficient is 35.4. The inflation rate is 1.9% (as of July 2017) as it has been decreasing recently.
In the past years Bulgaria has become a very attractive place for foreign investments for many reasons: the low cost of labor (very low minimum wage and low social security costs), the competitive advantages as low operational costs and the fact that the labor market is full of highly skilled young people, hungry for career opportunities. The corporate taxes are also very low, compared to the other European countries - profit tax is at 10%. In the past years, many companies decided to open offices as outsourced branches which made foreign companies very trustworthy for young people, as they give young people the start they need after graduating University.
As of 2007 Bulgaria has been a full-right member of the European Union and the main trading partners are the other EU-members countries, e.g. Germany, Italy, Greece, Romania and France. Outside of the EU the biggest partners of the country are Turkey, Russia, Serbia and F.Y.R.M. Benefiting from its good geographical position – on a crossroads between the East and the West, and boasting a long and beautiful coastline on the Black sea, Bulgaria has the potential to become a dream place for foreign investors.