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Bulgaria¡¯s development path over the past two decades has been characterized by gradual convergence to average real incomes in the EU. By 2022, it reached 59 percent of the average GDP per capita in the EU in purchasing power parity terms but remained the poorest member state. Yet, income convergence was much slower in the last decade, as reforms lost momentum while adverse demographic trends resulted in a rapid decline in the working-age population. Read more...