Why bulgaria is poor

He believes that strong education, job opportunities and higher incomes could reverse the trends of migration. Last year, he moved back to Sofia to start Arc Academy, a tertiary school for digital creative professions, such as gaming and animated movie design. The school, Hristov says, is his contribution to enable young, talented Bulgarians to get an education on a par with — or even better than in — other EU countries.

Arc Academy will start its first year in October, and Hristov says that some of the 80 newly enrolled students wrote in their application letters that they, too, had intended to leave Bulgaria to study and eventually work abroad, and were excited to see a school open that would enable them to stay close to home.

And although GDP grew by 3. As Davidkov points out, even highly skilled professionals often leave, knowing they can make more money abroad doing work that requires fewer skills and less education.

The ability to work, reside and travel openly throughout the European Union has also been a significant factor in Bulgarian population decline. Hristo Boyadzhiev, 33, is a Bulgarian returnee who runs not-for-profit Tuk Tam to help other Bugarians feel positive about coming back home, too Credit: Hristo Boyadzhiev.

Bulgaria Overview. Recent Economic Developments Following a contraction by 4. Last Updated: Oct 13, In Depth. Regional Development Reform. Results in Bulgaria. Statement on Shared Services Center in Sofia. Additional Resources. Country Office Contacts. World Bank.

While the EU average risk of poverty is 23 percent, more than 41 percent of Bulgarians find themselves falling into this category, making it the member state with the highest level of this risk.

Across the country, almost 10 percent of the population is defined as extremely poor, i. While other EU members thrive inside the single market, a question that needs to be asked is this: why is Bulgaria poor? Perhaps the largest contributor to poverty in Bulgaria is the impact of the financial crisis on the country. In years prior, Bulgaria had experienced rapid growth.

However, like many EU members, this reversed following the crash. As it becomes scarcer, the price will increase, leading the nation into a sustainable economic boost. Telerik Academy School is combating poverty in Bulgaria from the ground-up by offering free courses in computer science for students ages This is especially important as Bulgaria becomes more technologically advanced everyday and jobs in computer science become more valuable.

This will help develop and instill creativity, innovation and logic in younger generations. This will pave the way for their success as adults. Since its establishment in , the academy has earned over medals and awards. Telerik Academy School reached over 12, students and plans to instruct 12, more by the end of