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Bulgaria ECONOMIC STRUCTURE AND CONTROL MECHANISMS https://photius.com/countries/bulgaria/economy/bulgaria_economy_economic_structure_a~11.html Sources: The Library of Congress Country Studies; CIA World Factbook
Until late 1989, Bulgaria had a command economy based on centralized planning rather than on market forces. In such a system, crucial economic decisions such as allocation of output, rates of expansion of various sectors, values of goods and services, and the exchange rate of the national currency were made administratively, not by the market. Bulgaria's faithful adherence to the Soviet model of economic planning included rapid industrialization, large-scale investments, and other resource allocation to heavy industry at the expense of light industry and agriculture, higher rates of spending for capital investment than for consumption purchases, and forced nationalization of industry and collectivization of agriculture. Data as of June 1992
NOTE: The information regarding Bulgaria on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Bulgaria ECONOMIC STRUCTURE AND CONTROL MECHANISMS information contained here. All suggestions for corrections of any errors about Bulgaria ECONOMIC STRUCTURE AND CONTROL MECHANISMS should be addressed to the Library of Congress and the CIA. |