BULGARIA
A land at the Crossroads

A land at the crossroads - The EU Accession - A Monarch for PM.. - Assets may only go up - Opportunities for Expansion - Financial Markets - International Creditibility - Privatization - The "Nuclear" option - The "mobile" economy - A Business "at leisure" - A Balkan "Hollywood" - From an "economy of survival"


A LAND AT THE CROASSROADS

After 12 years of sweeping political, social and economic changes, Bulgaria has emerged as the cradle of political stability in the turbulent region of the Balkans. Never in its post-socialist history (after 1989) was Bulgaria threatened by violence, as its people who survived through five centuries of Ottoman reign have grown to respect human dignity and uniqueness. Also, Bulgaria has never in its newest history had to face foreign military presence on its soil, or give in to impotent ethnic or religious rage. Still, it has to cope with nearly half a century of socialist heritage that left the country's economy vulnerable in an ever-changing and globalizing world.

Being at the crossroads between Europe, the Middle East and Asia, the ups and downs of history have taught Bulgarians a crucial craft - the art of survival. In over 1000 years of Bulgarian statehood, which ranks it among the oldest states on the Old Continent, its people and its land have seen invaders come and go, leaving marks on Bulgaria's soil and soul but never taking this soul away.


THEATRE IVAN VAZOV
It is the invulnerable soul of Bulgaria and Bulgarians that has saved the nation throughout its history and is about to make things different today. It was hardly a coincidence that the incumbent government's program till 2005 was titled "The people are Bulgaria's treasure".

As for now, Bulgarian society is still polarized to a certain extent along political affiliations, motivated largely by the unwillingness to accept a drastic drop in living standards as a result of the economic collapse that followed the fall of the previous communist regime - a collapse that has not been offset so far- and by the loss of the feeling of security provided by the notion that the state had to take care of its citizens. Currently, Bulgarians have lower living standards than in 1990.

At that, a new notion has emerged to replace what has allegedly been lost - the notion of Bulgaria becoming a full member of the European Union, a notion powered by expectations for a better life and national and personal security in a prosperous environment.

As for now, Bulgarian society is still polarized to a certain extent along political affiliations, motivated largely by the unwillingness to accept a drastic drop in living standards as a result of the economic collapse that followed the fall of the previous communist regime - a collapse that has not been offset so far- and by the loss of the feeling of security provided by the notion that the state had to take care of its citizens. Currently, Bulgarians have lower living standards than in 1990.

At that, a new notion has emerged to replace what has allegedly been lost - the notion of Bulgaria becoming a full member of the European Union, a notion powered by expectations for a better life and national and personal security in a prosperous environment.

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© World INvestment NEws, 2002.
This is the electronic edition of the special country report on Bulgaria published in Forbes Global . April 29th, 2002 Issue.
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