KEY FACTS ABOUT SOFTWARE DEVELOPMENT in
BULGARIA DELIVERS TOP SKILL AND LOW COST
• One of the lowest costs centres in Europe.
• Currency board arrangement - stable and predictable
macro economic environment.
• Excellent Education and Highly Qualified Human
• Over 6,000 Bulgarian students are currently
majoring in Computer Science. The Global IT IQ
Report of March 2002 of Brainbench Inc. ranks
Bulgaria at 8 th place among the top 10 countries
as to the number of certified IT professionals
• Bulgarians rank second in international IQ tests
• IT - a PRIORITY Sector for the Government
• Supporting the investment process - The state
is currently one of the major investors in the
respective area. However the insufficient level
of investments at present is still a restraining
factor to the creation of competitive IT products
and there is a huge potential for all foreign
investors willing to take substantial share in
the future European IT market.
Bulgaria is expected to become a member of EU
at the year 2007.
Capital Sity: Sofia. Population 1.2million.
LOCAL CURRENCY : The unit of currency is the
Bulgarian Lev (BGN), plural Leva. The lev was
tied to the German Deutschmark by the currency
board (summer 1997) at a rate of BGN 1 to DM 1
and (in January 1999) also to the Euro at a rate
of BGN 1= EURO 1.956.
Variations in the exchange rate of pounds sterling
and the mark/Euro will therefore be reflected
in the exchange rate of pounds sterling to leva.
Languages: The official language is Bulgarian.
Bulgarian is an Indo-European language, a member
of the South branch of the Slavic languages, along
with Serbo-Croatian, and Slovenian.
English is widely used. German is spoken and a
number of people in Sofia have a knowledge of
French. As the Russian and Bulgarian languages
are closely related, Russian speakers should be
able to make themselves understood.