The Rise and Decay of the Socialist Economy in Bulgaria

The political reconstruction of Bulgaria has gone on more slowly than in Central Europe, but the role of the former communists is weaker than in neighboring Romania or Serbia and, of course, much more so than in the Soviet Union (except for the Baltic Republics). This paper discusses the economy before communist rule; economic institutions and policy options under the communists; economic decay and the dangers of procrastination; and the new government's program and its prospects.