FIVE KEY STATISTICAL DIMENSIONS FOR THE SOCIO-ECONOMIC DEVELOPMENT OF BULGARIA BEFORE AND AFTER ACCESSION TO THE EUROPEAN UNION
Bogdan Bogdanov
Abstract: This article is intended to familiarize the reader with basic measures of socio-economic development before and after Bulgaria's accession to the European Union.
In general, the basic and brief conclusions of the analysis of the five main measurers of the economic situation in Bulgaria are as follows:
1. Data from GDP changes during the period under review do not allow a firm conclusion to be made for a sustainable positive impact on the welfare of the population in the country. Obviously, trends are influenced by the EU situation. Stiglitz notes: ‘The euro area GDP, with a correction for inflation, has been stagnating for over a decade. GDP in 2015 was only 0.6% above that for 2007’.
2. With regard to employment and unemployment, it should be noted that after 2007, the figures show a decrease in the number of employed. At the same time, there is a tendency towards a decrease in the number of unemployed persons after the country's entry into the EU.
3. Household income and expenditure data show no positive changes in the financial situation of households in the country relative to economically developed countries.
4. The data for the next measure - inflation, show that before the country's entry into the EU it is higher than in the period afterwards.
5. The data on poverty estimates show that our country has not had any significant success
after the EU accession to reduce the phenomenon of poverty.
Measures of the economic situation over the period under review mutually influence each other and correlate. To a great extent, these relationships and dependencies are influenced by many other negative factors such as hidden economy, emigration and demographic crisis.
In general, the basic and brief conclusions of the analysis of the five main measurers of the economic situation in Bulgaria are as follows:
1. Data from GDP changes during the period under review do not allow a firm conclusion to be made for a sustainable positive impact on the welfare of the population in the country. Obviously, trends are influenced by the EU situation. Stiglitz notes: ‘The euro area GDP, with a correction for inflation, has been stagnating for over a decade. GDP in 2015 was only 0.6% above that for 2007’.
2. With regard to employment and unemployment, it should be noted that after 2007, the figures show a decrease in the number of employed. At the same time, there is a tendency towards a decrease in the number of unemployed persons after the country's entry into the EU.
3. Household income and expenditure data show no positive changes in the financial situation of households in the country relative to economically developed countries.
4. The data for the next measure - inflation, show that before the country's entry into the EU it is higher than in the period afterwards.
5. The data on poverty estimates show that our country has not had any significant success
after the EU accession to reduce the phenomenon of poverty.
Measures of the economic situation over the period under review mutually influence each other and correlate. To a great extent, these relationships and dependencies are influenced by many other negative factors such as hidden economy, emigration and demographic crisis.
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Date published: 2018-06-07
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