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Current Economic Situation

Bulgaria's GDP growth reached record levels of 7% during the first 6 months of 2008. Bulgaria's economy is more than holding its own among the more mature EU economies.
The government's stringent economic policies are now bearing fruit; Bulgarian National Bank reserves reached record levels of €13 billion and growth of Bulgaria's exports has exceeded imports for the second quarter in a row. In addition, tax revenues have increased after the government dramatically cut both corporate and incomes taxes to 10% at the beginning of 2008. All these factors have contributed to Bulgaria's impressive budget surplus, with debt at its lowest level ever.