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Business plan - how a bank can penetrate Bulgaria's market - Research Paper Example
Finance & Accounting
Pages 5 (1255 words)
Business plan - how a bank can penetrate Bulgaria's market Name Professor Course Date Investment climate Bulgarian economy operates on the basis of free markets, with its increased number of private sector in comparison to the public sector. The World Bank ranks Bulgaria as an industrialized country with upper-middle-income…
Bulgaria has been able to attract a significant level of Foreign Direct Investment (FDI) from the year 2001. The financial Crisis that hit Bulgaria market in the year 2007-2010 marked an economic decline of up to 5.5% in the year 2009. Fortunately, the country regained a positive growth of close to 0.2 % in the year 2010, contrary to the rest of Balkan Countries (Lapteacru, 85). The country operates using one of the most stable currencies in Eastern Europe the Lev termed Leva when in plural form. The currency is pegged with the Euro with a prevailing rate of 1.95583in every Euro. Bulgarian strongest sectors include the energy, metallurgy, machine building, mining, agriculture and tourism. The primary exports from the industries include steel and iron, machinery and refined fuel, and clothing. The major obstacles towards foreign investment and economic growth involve inadequate R&D funding coupled with the development policies with unclear definition. The European and international markets also experiences lower levels of competition and productivity. In the year 2012, the Bulgarian GDP attained a nominal of $ 50.78 billion, with $ 103.15 billion (PPP) in the same year. This marked a growth of 0.8% with a nominal of $ 6, 903. ...
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