Is the Poorest EU Country Actually Poor? Bulgaria Review

Bulgaria, officially Republic of Bulgaria, is located in the eastern portion of the Balkan Peninsula in south-eastern Europe. Founded in the 7th century, Bulgaria is one of the oldest states on the European continent and in the world. Today Bulgaria is part of the European union. However, the country has the lowest GDP per capita among the various member countries.But can it be said that the poorest country in the European Union, which includes many of the richest countries in the world, is actually poor?In this video we will examine Bulgaria from a macroeconomic point of view.

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Beginner guide to the main economic indicators:
- GDP: is probably the most important economic indicator. It measures the market value of the total production of goods and services in a country in a period of time (usually one year). 
- GDP Nominal: Is the GDP at current market price, unadjusted for the effects of inflation. 
- GDP PPP: is the GDP converted to US dollars using purchasing power parity rates. Purchasing power parity (PPP) is used to adjust the exchange rate differences among countries.
- GDP Per Capita: it is obtained by dividing the GDP with the population of the country.
- Public Debt (also Government Debt): is the debt of the state to the private sector of the economy (businesses, families, banks) or the Central Bank.
- Inflation: is a sustained increase in the general price level of goods and services in an economy over a period of time.
- Unemployment rate: is the number of unemployed people divided by the number of people in the labor force.
- GDP Growth: is the increase in the market value of the goods and services produced by an economy.
- Current Account Balance: includes all transactions with the rest of the world of a country (net trade balance in goods and services, net transfer payments, net foreign investments) in a period of time.

Data source: IMF, WorldBank

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CHAPTERS:
00:00 Intro
00:17 Bulgaria introduction
00:54 Support EC
01:07 History since Bulgarian liberation
03:38 The 90s
04:51 Nowadays
15:53 EC Economic Strengh Score (EC ESS)
18:15 Final Thoughts
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Видео Is the Poorest EU Country Actually Poor? Bulgaria Review канала Economics Channel