Catching up swiftly: Bulgaria’s GDP grew rapidly at an average rate of 6,2% in the years from 2004 to 2008 reflecting the positive impact of the path towards European integration. Moreover, the forecasts in times of crisis do not look quite as gloomy as for other countries in the region: -1,6% in 2009 and -0,1% (negative) GDP growth in 2010. Moreover, public debt was reduced from 38% to 14% between 2004 and 2008, revealing the relative health of Bulgaria’s economy. The high inflation rate of 12% in 2008 slowed as a result of the global economic downturn.
Lowest labour costs in EU: Bulgaria's working-age population consists of ca. 4.8 million people. Many Bulgarians have strong backgrounds in engineering, medicine, economics and the sciences, but the vast majority has secondary, technical, or vocational education. The aptitude of workers and the lowest labour cost among EU countries are considerable incentives for foreign companies to invest in Bulgaria and develop their business there.
No tax heaven - but an appealing tax level: With its 10% corporate tax rate, a VAT exemption on equipment imports for investment projects over EUR 5 million and the treaties for avoidance of double taxation with 61 countries, Bulgaria is currently one of the most attractive EU countries in terms of taxation.
Attractive assets: Catching up from a low level Bulgaria can be considered today as inexpensive. Therefore, investors can still find outstanding values on the market and - without doubt - business opportunities are plentiful.
