Though showing some improvement in the recent years, Bulgaria holds the shame of being labeled as the corruption capital of Europe. It is the corruption at the political level that is most dangerous in the country. All political parties operate with an open funding system. Such a condition, with no obvious management, surely encourages corruption. However, some facts and figures will show the 'politics' behind Bulgaria's corruption.
In an attempt to modernize the nation's economy, the communist government enforced different industrialization programs. Until democratizing reforms began in 1989, Bulgaria remained a communist country. The Bulgarian nationalism underwent a drastic change since its first multi party elections in 1990 (U.S.-Bulgarian Relations, 2008). But the transition from the communist rule to a free market economy was not easy. The introduction of Banking reforms, and program to privatize state-owned assets turned out to be challenging issues. Due to the fall of communism, the country lost all its Soviet market. The Bulgarian goods could not find a good market. It led to a substantial contraction of the financial system. The rising inflation and unemployment became major problems. To add oil to the fire, the Bulgarian government had to battle with the uncontrolled corruption at all levels of administration.
In the last two decades, Bulgaria underwent complet ...Show more