The Bulgarian Economy

First published in 1986, The Bulgarian Economy (now with a new preface by the author) traces the rapid growth of the Bulgarian economy throughout the twentieth century. It also notes the obstacles Bulgaria has faced in bringing about industrial development in a small relatively poor country where, in the early twentieth century, agriculture predominated. It explores the difficulties which have arisen because of the unusual domination of a relatively isolated capital city, Sofia, over the rest of the country. It examines the effects of Bulgaria’s being on the losing side in three wars. An abrupt change in economic strategy and management came with the Communist accession to power in 1944 and with the simultaneous reorientation from close ties with Germany to close ties with the Soviet Union. The book shows, however, that significant state control had appeared well before this transition and that there is much in common between the pre- and post-war periods. It goes on to emphasise economic growth and structural change in the post-war period and the unusually large role of foreign trade. The reforms which have taken place since 1960 are accorded a separate, final chapter.