Country Listing

Bulgaria Table of Contents



Until late 1989, Bulgaria had a command economy based on centralized planning rather than on market forces. In such a system, crucial economic decisions such as allocation of output, rates of expansion of various sectors, values of goods and services, and the exchange rate of the national currency were made administratively, not by the market. Bulgaria's faithful adherence to the Soviet model of economic planning included rapid industrialization, large-scale investments, and other resource allocation to heavy industry at the expense of light industry and agriculture, higher rates of spending for capital investment than for consumption purchases, and forced nationalization of industry and collectivization of agriculture.

Data as of June 1992