Bulgaria has a well-educated workforce, but it is the European Union’s poorest country.
Why is Bulgaria such a poor country?
Bosnia and Herzegovina, the poorest country in Europe, is the first. The unemployment rate is currently at 40%. After Djibouti and Congo, it is the world’s third highest level. This places Bosnia and Herzegovina considerably behind its impoverished neighbors. The gross domestic product (GDP) per capita is 7.46 euros.
Albania is next. Albania has seen a dramatic reduction in poverty over the last two decades. However, approximately one-seventh of Albanians remain impoverished. More than 5% of the population is malnourished, and 11% of children under the age of five have stunted growth. The country’s most serious issue is infrastructure. As a result, Albania is unappealing to foreign investors. The GDP per capita is 8.50.
RN Macedonia received the “bronze” award. It is Europe’s third poorest country. The Balkans are still regarded as Europe’s most turbulent region. Rural areas are home to more than two-thirds of the inhabitants of the former Yugoslav republic. The GDP per capita is 9.20.
Serbia is in fourth place. Serbians have been through a significant political conflict in the last 30 years: the breakup of the Socialist Federal Republic of Yugoslavia, the wars that followed, and international isolation from the international community. Poverty remains a significant social issue in Serbia. According to the World Bank, approximately 25% of the population lives in poverty. The country is burdened by high levels of corruption and inadequate infrastructure. Over 1.3 million people are battling for survival. The GDP per capita is 9.92.
Montenegro is ranked fifth. Montenegro is a little country in comparison to other European countries, therefore it is easy to overlook its poverty. Unemployment is twice that of the rest of the EU. The services sector generates the majority of the revenue. The GDP per capita is 10.13.
Bulgaria comes in sixth position. It is one among Europe’s poorest countries. Currently, 65% of the population is unable or barely able to meet their basic needs. This is owing to state-owned firms’ high levels of debt in the energy industry and hospitals, as well as weak infrastructure and the possibility of population reduction. The GDP per capita is 12.77.
Belarus is ranked seventh, and it is still reeling from the effects of the economic downturn. The situation hasn’t changed much in recent years. More over a quarter of the population of Belarus is still living in poverty. This primarily affects youngsters, who are the most vulnerable to the problem. Poverty has the greatest impact on Roma youngsters and those living in isolated rural areas. The GDP per capita is 13.42.
Croatia struggled with the gap between affluent and poor after the conflicts in Yugoslavia, as poverty was particularly widespread in former battle zones. It has only been a few years since the economy has begun to revive. The development has been aided by tourism and the processing sector. The GDP per capita is 15.73.
Russia is ranked ninth, with a widening disparity between affluent and poor: some can’t obtain enough, while others are fighting for survival. Poverty is incompatible with Russia’s supposed enormous might under Putin. It does, however, exist, particularly in the villages. The GDP per capita is 15.81.
Romania, which suffers from acute poverty, is ranked tenth. Nearly half of the population lives in deplorable circumstances. Orphans, abandoned children, and children with impairments whose parents are unable to care for them abound in many homes. The GDP per capita is 16.
(The Business Standard staff may have modified just the headline and image of this report; the remainder is auto-generated from a syndicated feed.)
What is Bulgaria’s level of corruption?
Transparency International publishes the Corruption Perceptions Index (CPI) at the start of each year. The report is based on global polling of experts on issues such as freedom of the press, integrity, and independent judiciaries. Lower-ranking countries have “untrustworthy and poorly performing public institutions including the police and judiciary,” according to the CPI. Anti-corruption regulations are regularly disregarded: “People frequently endure bribery and extortion, rely on fundamental services that have been harmed by financial theft, and meet official apathy when seeking remedy from corrupt officials.”
Bulgaria was ranked 75th out of 176 nations in the 2016 Corruption Perceptions Index (a score of 42 out of 100). The lower the number, the greater the perception of corruption in a country.
The country was placed 71st out of 180 nations in Transparency International’s 2017 Corruption Perceptions Index, and the most corrupt in the European Union.
Bulgaria is also the most corrupt member of the European Union, according to Transparency International’s 2018 Corruption Perceptions Index, which ranks it 77th in the world. Bulgaria is “significantly trailing behind” other EU members, according to the group. According to a poll, 76 percent of Bulgarians feel political parties are corrupt, and 86 percent say the judiciary is dishonest.
In Bulgaria, how many millionaires are there?
According to statistics, there are 916 millionaires in the country right now. According to Nova TV, their combined wealth is over 2 billion Levs (around 1 billion 22 million euros).
Bulgaria’s average monthly wage is 1,247 Leva (638 euro). The lowest average monthly salary is 787 Leva (402 euros) in Blagoevgrad, Southwestern Bulgaria, and the highest is 1,724 Leva (1,724 euros) in Sofia (881 euro).
In Bulgaria, how many Indians live?
The Indian community is small, with only about 700 members, the majority of whom are professionals employed by firms or self-employed in small businesses. Around 300 Indian students attend universities in Sofia, Pleven, Plovdiv, Varna, and Stara Zagora, largely to study medical.