Bulgaria Business, Taxation and Offshore Information
Bulgaria is strategically located in south-east Europe in the region known as the Balkans. It shares national borders with five countries and the Black Sea lies on its eastern border. Bulgaria has an area of 111,000 sq. km and an estimated population of 7 million. Its capital city, Sofia, is one of the oldest cities in Europe and has good connections to other areas.
The majority of the population follow the Bulgarian Orthodox religion and the native language is Bulgarian, spoken by 84% of the people.
The National Assembly of Bulgaria comprises 240 elected deputies. The supreme decision-making body in Bulgarian politics is the Parliament. The present Prime Minister is Boyko Borissov (since 2017) and the President is Rumen Radev (since January 2017). The president is elected for a term of five years.
Bulgaria has suffered from high inflation, mismanagement of the economy and corruption since the collapse of Communism in 1989. However, economic reforms were introduced in the late 1990s and the economic picture has since improved.