About Bulgaria
Economic performance
Bulgaria has a diversified economy with strength across a range of sectors. This diverse economic base guarantees firms easy access to domestic and neighbouring countries supplies and services.
The growth of the manufacturing sector is 7.1% and the growth of the services sector is 3.5%. The top three manufacturing industries are wood processing, metal products and food processing.
In 2004 the Bulgarian economy grew by 5.6%. Real G.D.P. exceeded this figure in 2005 with a figure of 5.8% in 2005 and forecasts indicate these figures will be maintained and likely exceeded over the next number of years, as the conditions and indicators are favourably disposed for Bulgaria. The year 2006 saw continued growth, emphasized by the tourism and industrial output. These 2 factors continue to be the main driving forces behind the emergence of a strong Bulgarian economy.
Global political and economic uncertainties continue to represent a risk to Bulgaria's outlook. However, the essential conditions for stronger growth are in place and business investment is expected to gain strength in the year 2007, as firmer economic growth takes hold.
Investments
The volume of foreign investments in 2002 amounted to USD 873.7 million.
The amount of investments made in Bulgaria in 2003 stood at approx USD 4.6 billion. The bulk of these investments were made by Bulgarian investors - USD 2.3 billion, with 20% of the investments concentrated in the sphere of tourism, according to data released by the Foreign Investments Agency. For 2003, the volume of foreign investments was USD 1.851 billion.
For 2004, the volume of foreign investments was USD 2.276 billion. The Foreign Investments Agency figure for 2005 up to September is USD 1.566 billion, well on schedule to match and exceed the 2004 figure. The legislative framework for foreign investments is set by the Investment Promotion Act. This instrument lays down the strategy towards supporting investment efforts in Bulgaria, while guaranteeing equal treatment of both foreign and local investors.About Bulgaria — Business & Tourism