ABSTRACT
Bulgaria is a small open economy, located in south-eastern Europe, in the heart of the Balkans. Bulgaria has a highly diverse landscape, dominated by the vast lowlands in the north, highlands and elevated plains in the south and the Black Sea coast in the east. In the 1990s, Bulgaria experienced a post-communist transition from a centrally planned to a free market-oriented economy. The boom in business aspirations – mostly in the real estate, tourism, transport and energy sectors – resulted in an appetite for growth rather than for conservation. The Bulgarian economy is reliant on relatively cheap labour, lower standards and taxes, and the importation of innovations and green technologies. A sizeable "grey sector" attracts businesses searching for a lax regime, while discouraging sustainable enterprises that are looking to invest in innovations and green projects. Bulgaria has no specific national policies supporting sustainable enterprises. Nevertheless, several strategic documents indirectly reference the subject.
