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Bulgarian contribution to the economics of the European Union

Author

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  • Sabrina Kalinkova

    (University of National and World Economy)

Abstract

Bulgaria, as one of the youngest members of the European Union (EU), has made significant contributions to the economic development of the Union. Since joining the European Union in 2007, Bulgaria has undergone a series of economic reforms and has shown impressive growth rates, which have had positive effects on the European Union's economy. The country's strategic location, low-cost labour force, and relatively low corporate tax rates have made it an attractive destination for foreign investors, leading to increased trade and investment flows between Bulgaria and other European Union member states. Bulgaria has also played an active role in the European Union's efforts to deepen economic integration and promote the digital single market. However, the country still faces challenges related to corruption, governance, and demographic trends that need to be addressed to ensure sustainable growth and to fully realize its potential in the European Union's economy.

Suggested Citation

  • Sabrina Kalinkova, 2023. "Bulgarian contribution to the economics of the European Union," University Economic Bulletin, Hryhorii Skovoroda University in Pereiaslav, Faculty of Financial, Economic and Vocational Education, issue 56, pages 61-65, March.
    • Handle: RePEc:aff:colart:y:2023:i:56:p:61-65
    DOI: https://doi.org/10.31470/2306-546X-2023-56-61-65
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