Bulgaria

Bulgaria became a member of the European Union in 2007 and is considered an upper-middle-income economy. After joining the EU Bulgaria registered a peak in foreign investment of about 6 billion Euros. Bulgaria has experienced rapid economic growth in recent year until the recent economic downturn. Bulgaria is a service oriented economy with this sector making up over two-thirds of the economy. The country suffered a difficult start to 2009, after gas supplies were cut in the Russia-Ukraine gas dispute. Industrial output suffered, as well as public services, exposing Bulgaria as being over dependent on Russia for raw materials.

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