Tourist information about Bulgaria
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Useful information about Bulgaria
Bulgaria Background
The Bulgars, a Central Asian Turkic tribe, merged with the local Slavic inhabitants in the late 7th century to form the first Bulgarian state. In succeeding centuries, Bulgaria struggled with the Byzantine Empire to assert its place in the Balkans, but by the end of the 14th century the country was overrun by the Ottoman Turks. Bulgaria regained its independence in 1878, but having fought on the losing side in both World Wars, it fell within the Soviet sphere of influence and became a People's Republic in 1946. Communist domination ended in 1990, when Bulgaria held its first multiparty election since World War II and began the contentious process of moving toward political democracy and a market economy while combating inflation, unemployment, corruption, and crime. Today, reforms and democratization keep Bulgaria on a path toward eventual integration into NATO and the EU - with which it began accession negotiations in 2000.
Bulgaria Economy
Bulgaria, a former communist country striving to enter the European Union, has experienced macroeconomic stability and positive growth rates since a major economic downturn in 1996 led to the fall of the then socialist government. A $300 million stand-by agreement negotiated with the IMF at the end of 2001 will help the government maintain economic stability as it seeks to overcome high rates of poverty and unemployment and, at the same time, cut the budget deficit and contain inflation.
