KEY FACTS ABOUT SOFTWARE DEVELOPMENT in Bulgaria:


BULGARIA DELIVERS TOP SKILL AND LOW COST EFFICIENCY:

One of the lowest costs centres in Europe.
Currency board arrangement - stable and predictable macro economic environment.
Excellent Education and Highly Qualified Human Potential
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 - 8,844.
Bulgarians rank second in international IQ tests (MENSA International);
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.


About Bulgaria

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.


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