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MNC > Bulgaria > Flashcards

Bulgaria Flashcards

1
Q

Structure of economy

Primary sector

A

Agriculture: 4,3%

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2
Q

Structure of economy

Secondary sector

A

Industry: 28%

  • good for car production
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3
Q

Structure of economy

Tertiary sector

A

Service: 67.4%

  • Marketing & training
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4
Q

GDP growth past 5 years

Bulgaria

A

+ 1,809%

  • Stable and consistent
  • Highest GDP growth
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5
Q

GDP growth past 5 years

Hungary & Romania

A

+ 0,349% Hungary

+ 0,544% Romania

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6
Q

GDP growth past 5 years

Greece

A

2nd place

+ 1,131%

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7
Q

Minimum wage

Bulgaria

A

lowest at EURO 326

-

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8
Q

Minimum wage

Greece, Hungary & Romania

A

Greece; EURO 639
Hungary; EURO 461
Romania; EURO 459

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9
Q

Productivity levels; Bulgaria vs. EU

  • per person per hour worked
A

EU benchmark; 100 (standard)

Bulgaria; right above 40 (2014 - 2019)

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10
Q

Productivity levels; Greece, Hungary & Romania

A

between 60 - 80 (better then Bulgaria)

Romania lowest, Hungary medium, Greece high

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11
Q

Clusters - Automotive

A

Named Automotive Cluster Bulgaria (ACB), it is a non-profit organisation with the main goal of representing the best interest of automotive manufactures, organisation and suppliers.

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12
Q

Clusters - Digital Transformation and Innovation

A

The core of this cluster is to improve competitiveness of its members.

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13
Q

Cluster - Cluster info and communication technologies Plovdiv (ICT Cluster Plovdiv)

A

The aim of this cluster is to make Bulgaria’s ICT industry more competitive.

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14
Q

Power Distance - Bulgaria and Romania

A

Bulgaria and Romania, High level - accept hierarchy

Bulgaria: 70
Romania: 90

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15
Q

Power Distance - Hungary and Japan

A

Scores low - independent

Japan: 53
Hungary: 46

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16
Q

Power Distance - Greece

A

middle with 60; power gives you opportunities

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17
Q

Individualism

A

High: time is money
Low: collectivist society

Bulgaria: 30
Japan: 46

Greece: 35
Hungary: 80
Romania:30

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18
Q

Uncertainty avoidance

A

Bulgaria: 85
Japan: 92

Greece: 100
Hungary: 82
Romania: 90

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19
Q

Neighbouring countries

A

Bulgaria: 5
Greece: 4
Hungary: 7
Romania:5

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20
Q

level of Bureaucracy - Rank

A

Doing business: good result compared to the others (Romania is better)

Bulgaria Rank 61 in 2020

Romania 55
Hungary 52
Greece 79

21
Q

Level of Bureaucracy - Bulgaria, info

A

Lower is better;

Dealing with construction permits

Protecting minority investors

Enforcing contracts (space for increasement)

22
Q

Level of Bureaucracy - Bulgaria

A

decreased registration fees - makes it easier for companies to start up

23
Q

Corruption

A

Bulgaria, Romania, Hungary - same score (44) and Rank (69)

Scores very much in the middle.

24
Q

Corporate tax

A

10% Bulgaria, second lowest
- steady taxes

Hungary 9%
Romania 16%
Greece 28%

25
Q

Value added tax

A

20% Bulgaria, second lowest
- steady taxes, no change over the years

Romania 19%
Hungary 27%
Greece 24%

26
Q

TAX - Employer social security

A
  1. 06 - 19.02% Bulgaria, third lowest

- steady taxes, just 0.04 % change

27
Q

Motorways, Q & C

A

Bulgaria:

Bulgaria: Rank: 106/ 144 Score: 3.1

Romania: Rank: 121 / 144 Score: 2.8

Greece: Rank: 55 / 144 Score: 4.3

Hungary: Rank: 58 / 144 Score: 4.2

Bulgaria consists of 8 highways, which four of them are fully completed. (1. The longest highway is A2, it is from the capital, Sofia to the city Varna. The highways are divided in the capital letter A and a number such as A1 is called Trakija, this highway is connected from the Serbian border until the city of Burgas

28
Q

Train, Q & C

A

Bulgaria: Rank: 51 / 144 Score: 3.0

Romania: Rank: 59 / 144 Score: 2.9

Greece: Rank: 57 / 144 Score: 2.9

Hungary: Rank: 38 / 144 Score: 3.8

Bulgaria:
Bulgaria’s train network consists of 4000km of rail track, the main train station is in the Capital, Sofia. In the main train station, it has connection to Romania, Hungary, Greece, Turkey and Serbia.

  • Romania has good connection with rest of Europe
29
Q

Airports, Q & C

A

Bulgaria: Rank: 69 / 144 Score: 4.3

Romania: Rank: 105 / 144 Score: 3.6

Greece: Rank: 40 / 144 Score: 5.2

Hungary: Rank: 81 / 144 Score: 4.1

In Burgas airport, it is non-stop passenger flights to 53 destinations in 20 countries. The longest direct flight from Burgas is to Dublin, capital of Ireland.
- Bulgaria has 4 main airports

30
Q

Ports, Q & C

A

Bulgaria’s main sea ports: Burgas and Varna
- second best

Bulgaria: Rank: 68 / 144 Score 4.2

Romania: Rank: 104 / 144 Score: 3. 4

Greece: Rank: 49 / 144 Score: 4.7

Hungary: Rank: 85 / 144 Score: 3.8

31
Q

% of people with internet - EU vs. Bulgaria

A

EU; 89%

Bulgaria lowest of compared countries ; 67%

32
Q

transport cost - diesel

A

Bulgaria, second lowest across EU (good)

Bulgaria has some of the lowest diesel prices in Europe with a total cost of 0.84 euros per litre. The product itself costing 0.37, tariffs at 0.33 and Value added tax at 0.14.

33
Q

Transport cost - Gasoline

A

Bulgaria, second lowest across EU (good)

It also has some of the lowest gasoline prices with a total cost of 0.84 euros per litre, the product at 0.34, tariffs at 0.36 and value added tax at 0.14.

A great country to start a business as it offers low transport costs

34
Q

Energy cost - industrial gas

A

Compared to the EU, it is lower than the EU average.

35
Q

Energy cost - industrial gas

A

One of the lowest costs in the region, beaten by just a few countries.

36
Q

Energy cost - industrial gas - numbers

A

2020 - 0.0191

37
Q

Energy cost - industrial Electricity - numbers

A

2020 - 0.0833

38
Q

Renewable energy - Bulgaria

A

17.1%

Increased a lot during the years.

Main types: 2019
Solar PV 1405.0 GWh
Hydro 3383.0 Gwh
Wind 1317GWh

good, in the middle; still space for improvement !

39
Q

Renewable energy - Romania, Hungary, Greece

A

Romania; 23.4%

Hungary; 14.3% - lower

Greece; 16.1% - lower

40
Q

PISA; OECD vs. Bulgaria (data)

A

OECD Average
487 - reading
489 - math
489 - Science

Bulgaria
420 - R
436 - M
424 - S

41
Q

PISA - Romania, Greece, Hungary (data)

A

Romania
428 - Reading
430 - Math
426 - Science

Greece
457 - R
451 - M
452 - S

Hungary
476 - R
481 - M
481 - S

42
Q

Languages

A

Bulgarian: 97%

English: 12%

room for improvement

43
Q

Degrees studied

A

EU:

business +; 34
math +; 11

Bulgaria:

business +; 49
math +; 6

44
Q

Levels of FDI

A

Bulgaria: +62% since 2014

Europe: +23% since 2014

Eastern Europe +13% since 2014

We can say that the levels of FDI flow has fluctuated throughout the period, but that there is a trend of growth.

45
Q

Export

A

Exports:

1 - Petroleum oils and oils obtained from bituminous. (7.4%)

2 - Medicaments consisting of mixed or unmixed.
(3.1%)

3 - Copper, refined, and copper alloys, unwrought.
(2,9%)

46
Q

Import

A

Imports:

1 - Petroleum oils and oils obtained from bituminous (8.3%)

2 - Medicaments consisting of mixed or unmixed
(3.3%)

3 -Copper ores and concentrates
(3,2%)

47
Q

Principle domestic industries sector

A

Metallurgical

Chemical

Machine Building

48
Q

gov incentives for foreign investments - State Aid

A

State Aid - Stimulate national and foreign business
Incentives include:

Budget -> 900 million Euros for aid in 2020

A cash refund -> up to 50% for the cost of assets

Enterprises of any size are eligible as long as there is a minimum investment of 1 million Euros

49
Q

gov incentives for foreign investments - Bulgaria Corporate Income Tax Act (CITA)

A

Bulgaria Corporate Income Tax Act (CITA) -
0% corporate income tax for business.
Requirements include:

Enterprise establishment -> unemployment rate +25%

+10 people need to be employed

Perform manufacturing activities.

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