The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This Selected Issues paper reviews recent developments in growth and employment in Bulgaria and highlights key constraints to growth suggested by cross-country competitiveness studies. Bulgaria's GDP has grown substantially since economic and financial stabilization in 1997. The global economic crisis had a major effect on Bulgarian growth and employment. After falling by 51/2 percent in 2009, real GDP has grown at a low rate, and by 2012 real GDP was still 3 percent short of its 2008 level. However, employment growth was negative during 2009-2012, and the first small uptick occurred only in 2013.