After joining the European Union in 2007, Bulgaria registered a peak in foreign investment of about 6 bln euro. Low productivity and competitiveness on the European and world markets alike due to inadequate R&D funding, however, still remain a significant obstacle for foreign investment. Nevertheless, according to the latest Annual report of the Economic Research Institute at the Bulgarian Academy of Sciences, the average salary in Bulgaria is a quarter (1/4) of the average salary in the European Union, and should be two times higher when the labour productivity is calculated in the formula.
After joining the European Union in 2007, Bulgaria registered a peak in foreign investment of about 6 bln euro. Low productivity and competitiveness on the European and world markets alike due to inadequate R&D funding, however, still remain a significant obstacle for foreign investment. Nevertheless, according to the latest Annual report of the Economic Research Institute at the Bulgarian Academy of Sciences, the average salary in Bulgaria is a quarter (1/4) of the average salary in the European Union, and should be two times higher when the labour productivity is calculated in the formula.