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Bulgaria

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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.

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