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Assessment of Development Results - Bulgaria

image of Assessment of Development Results - Bulgaria

This report on Bulgaria’s Assessment of Development Results (ADR) focuses on the following three thematic areas: fostering democratic governance; achieving the Millennium Development Goals (MDGs) and reducing poverty under a human development perspective; and ensuring environmental sustainability. Reflecting on the characteristics of Bulgaria’s economic history, its current juncture and prospects, the ADR examined the past with a forward-looking perspective.

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Executive summary

Since the 1996-97 political and economic crises, a time during which 36 percent of Bulgaria’s population numbering eight million was considered poor, the country has made substantial progress towards political and macroeconomic stability. Basic democratic freedoms are in place, the parliament operates in a democratic fashion, and independent and critical media exist. Also, public finances were brought under control and economic growth resumed—important steps along the way to the ultimate goals of improved living standards and accession to the European Union (EU). Current fore casts predict that Bulgaria’s real gross domestic product (GDP) will grow by approximately 5 percent per annum over the next four years and that its GDP per capita will expand by approximately 6 percent annually. Bulgaria’s internal accounts are projected to be roughly in balance and its external indebtedness is projected to continue its decline.

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