Sector policies and their role for the growth of the Bulgarian economy

Varna Free University “Chernorizets Hrabar”, Varna, Bulgaria

^* Corresponding author: neli.parzhanova@vfu.bg

Abstract

Changes in the sectoral structure of the economy illustrate many processes and are an indicator of the nature and speed of economic development in the country. The industry structure is also an important part when analyzing the rates and proportions of economic development. The significance of these changes in individual sectors is determined by their place and role in the production process. Therefore, the correct assessment and the possibilities for their accelerated development can actively contribute to the acceleration of economic growth. The object of research in this article is the structure of the Bulgarian economy and the changes that occurred in it in the period 1995-2022. The purpose of this article is to track and analyze changes in the sectoral structure of the economy by means of appropriate statistical and econometric tools. The dynamics of development of the three economic sectors (agriculture, industry and services) in the economy are different. In general, industry and services are growing more. The conclusion we reach is that the changes in the structure of the economy are more due to the differences in the rates of decline, and not so much in the rates of growth of some of the sectors.