Bulgaria is comprised of the classical regions of Thrace, Moesia and Macedonia. The southwest of the country is mountainous, containing the highest point of the Balkan Peninsula, the Musala[?] at 2,925 m, and the range of the Balkan mountains[?] runs west-east through the middle of the country, north of the famous Rose Valley. Hill country and plains are found in the southeast, along the Black Sea coast in the east, and along Bulgaria's main river, the Danube in the north. Other major rivers include the Struma[?] and the Marica[?] in the south.
The Bulgarian climate is temperate, with cold, damp winters and hot, dry mediterranean summers.
Bulgaria's economy contracted dramatically after 1989 with the loss of the Soviet market, to which the Bulgarian economy had been closely tied. The standard of living fell by about 40%, but is expected to reach the pre-1990 levels by the end of 2003. In addition, UN sanctions against Yugoslavia and Iraq took a heavy toll on the Bulgarian economy. The first signs of recovery emerged in 1994 when the GDP grew and inflation fell. During 1996, however, the economy collapsed due to poor economic reforms and an unstable banking system. Since 1997 the country has been on the path to recovery, with GDP growing at a 4-5% rate, increasing FDI, macroeconomic stability and EU membership set for 2007.
The current government, elected in 2001, has pledged to maintain the fundamental economic policy objectives adopted by its predecessor in 1997, i.e., retaining the Currency Board, practicing sound financial policies, accelerating privatisation, and pursuing structural reforms. While economic forecasts for 2002 and 2003 predict continued growth in the Bulgarian economy, the government still faces high unemployment and low standards of living. Bulgaria is holding accession talks with the European Union, hoping to join in 2007.
Bulgaria's population is mainly ethnic Bulgarian (83.6%), with two sizable minorities in the form of Turks (9.5%) and Roma (4.6%). The remaining 2.3% consists of several smaller minorities including Macedonians, Armenians, Tatars and Circassians[?]. Bulgarian, a member of the Slavic languages, is the only official language, but other languages are spoken, corresponding closely to their respective ethnic minorites.
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