Government
Country name: Republic of Bulgaria.
Conventional form: Bulgaria.
Capital: Sofia.
Government type: Parliamentary democracy.
Constitution: Adopted 1991.
Administrative divisions: 28 districts including 262 municipalities.
Executive branch: Chief of state - President Georgi Parvanov. Head of Government - Chairman of the Council of Ministers - Simeon Saxe-Coburg-Gotha. Cabinet - Council of Ministers elected by the National Assembly.
Legislative branch: National Assembly, unicameral, 240 seats, members elected by popular vote.
Suffrage: 18 years of age; universal.
Flag description: Three equal horizontal bands of white (top), green, and red; the national emblem formerly on the hoist side of the white stripe has been removed - it contained a rampant lion within a wreath of wheat ears below a red five-pointed star and above a ribbon bearing the dates 681 (first Bulgarian state established) and 1944 (liberation from Nazi control).
Economy overview: Bulgaria, a former communist country striving to enter the European Union, has experienced macroeconomic stability and strong growth since a major economic downturn in 1996 led to the fall of the then socialist government. As a result, the government became committed to economic reform and responsible fiscal planning. A currency board - the national currency is pegged to the Euro and all foreign investments are strictly monitored by the International Monetary Fund - has been in effect since 1997. Modern economy is stable, though standard of living remains low. |