Structural challenges for medium-term economic growth
Economy has significantly converged with the EU average in the last 20 years
Still, chronic structural weaknesses (institutional, social, technological, etc) persist, keeping the country at a distance from the EU core economies
According to reputable institutions, the country lags mainly in government effectiveness, transport infrastructure, rule of law and digitalisation
Tackling these weaknesses will require greater utilisation of EU funds, as well as the implementation of policy recommendations from widely accepted institutions
Bulgaria not only has competitive advantages in low-tech industries relative to the EU, but also in medium and high-complexity sectors which could support its growth
