Bulgaria. According to Countryaah, the capital of Bulgaria is Sofia. The country began to slowly recover after the political crises and economic chaos of recent years. Prime Minister Ivan Kostov’s government succeeded in creating political stability and reducing inflation to 6.1%, compared with 1997, when prices in early spring increased by over 200% a month. One of the main reasons for the success was that the government took a firm grip on the economy, and according to the rules for the specially appointed foreign exchange inspection, the central bank now has to buy and sell the Bulgarian currency live at a fixed value of 1,000 live against the 1D mark. In addition, the central bank was prohibited from lending money directly to the government, which must therefore limit its expenditure to the amount covered by taxes or can be borrowed commercially.
However, the work of introducing a modern market economy was slow. Privatization continued, but there were particular difficulties in the companies that had been bought by the employees, and there they were hesitant to carry out modernization as these often lead to layoffs. Registered unemployment decreased during the year from 14.2% in 1997 to 11%. However, there may be a large number of darkness.
Bulgaria still has a long way to go when it comes to the rights of minorities, especially those of the Roma (gypsies), but a party-wide committee was set up to improve.
At the end of the year, the parliament in Sofia voted by a large majority to abolish the death penalty.
Bulgaria’s attitude towards the government of Macedonia was further strengthened by the end of the year. Sofia rejected that Macedonia should be an independent state and did not accept the use of Macedonian as a national language; therefore, Bulgaria refused to sign documents in Macedonian. This negative attitude prevented the entry into force of 20 economic and cultural agreements between the two countries.
In an effort to improve the economy, the government accepted all guidelines from the IMF to secure continued international loans. In May 1998, support for the agricultural sector was abolished. At the same time, it was decided to privatize the state telecommunications company, several banks and the Bulgarian carrier. The government declared that its goal was to achieve balance in the state’s economy. A few weeks later, the IMF granted a loan of DKK 800 million. US $.
The Left joined in a coalition called the Bulgarian Euro-Left, while 4 Liberal parties formed the Liberal Democratic Alliance. General Angel Marin criticized the reduction policy within the military and was replaced by Stoyanov. In July, Army commander Miho Mihov announced a reduction of 1,000 officers over the following months.
In November 1999, the EU announced that it was looking for opportunities for the closure of the Kozloduy nuclear power station, which accounts for 45% of the country’s electricity. The EU and Bulgaria reached an agreement after which the Russian-built reactors will close in the period 2003-06. The closure of the nuclear power plant is one of the EU conditions for the accession of Bulgaria to the Union, but at the same time it demanded compensation for the closure.
The discharge of cyanide from a Romanian mine in the Danube River, put the whole region in emergency preparedness and caused Sofia to claim financial compensation for the damage caused by the discharge in Bulgaria.
- Abbreviationfinder: What does BUL stand for in geography? Here, this 3 letter acronym refers to the country of Bulgaria.
In March 2000, the UN accused Bulgaria, Togo, Rwanda and Burkina Faso of breaking the arms embargo imposed by the UN against Angola. Acc. The UN is Bulgaria’s largest source of arms and military training by the UNITA rebels fighting the Angolan government. UNITA pays for these services with diamonds and emeralds – a trade the UN has also banned.
Ex-king Simeon II was crowned king of Bulgaria at the age of 6 in 1943. However, he held the post only until 46. In April 2001 he returned from his exile and started the political movement the Simeon II National Movement. Under the chaotic political conditions of the country, he was elected to the parliamentary elections and inaugurated as prime minister in July of that year. Thus, Simeon Saxe-Coburg became the first former Eastern European monarch to return to power. In his election campaign, he had promised not to work for the reinstatement of the monarchy, but in return to end poverty, unemployment and other social problems that had helped to strangulate Bulgaria since the fall of communism in 1990. However, 100 days after his deployment, he became met by a demonstration with thousands of participants in the streets of Sofia, who objected to the failure of the promises. It was seen as a clear sign of popular discontent when Socialist Georgi Parvanov was elected President that month. This was the lowest turnout since the fall of communism.
Both Romania and Bulgaria expected to be admitted to NATO at the NATO summit in November 2002. During a visit to Bucharest in April of that year, the Prime Minister discussed with his Romanian colleague Ion Iliescu the prospects for both countries joining the alliance. At the summit, the country was invited to accession negotiations, in March 2003 an accession protocol was signed and the country is expected to be formally admitted in the first half of 2004. It participates in the US occupation of Iraq. Ifht. The EU began its accession negotiations in 1999, but did not join the first round of Eastern European countries. Bulgaria hopes to conclude the 2004 accession negotiations. admission in 2007.
The disappointed expectations of Simeon II were clearly expressed at the local elections in the fall of 2003, which became a stinging defeat for his party. By June 2005, parliamentary elections will be held.