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Home >  Bulgaria >  Economy > Industrial Policy

Bulgarian Industrial Policy



Bulgarian Industrial policy underwent a change post war. Earlier there was significant growth in the Bulgarian heavy industry sector. This growth however acted as an impediment to the growth of small scale industries and proved to be detrimental to the environment. Previously sectors like textiles, agriculture and food processing flourished but consequentially suffered owing to the war. The Bulgarian Industrial policy now focused on developing heavy industry. The Industrial policy in Bulgaria also emphasized on supporting a sustained ferrous metal industry and the need to produce quality machinery in the country, more specifically electrical machinery. The Bulgarian industrial policy was given a concrete shape with the establishment of the Kremikovtsi Metallurgical Complex. The complex was set up after it was reported that the chosen area had rich deposits of iron ore. Later on, however, the reserves were found to be inadequate. The policy of manufacture of heavy equipment yielded positive growth for the industrial sector than did metallurgy. Post war, at least some of the industries made notable progress namely an electrical equipment industry which exported the goods as well as the electrical power generation plants. But the growth post war was extremely short lived. The industrial policy of the socialists and their reforms stifled industrial growth.



Bulgaria
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