Bulgaria3
Macro background and labour market developments
Over the recent decade the Bulgarian economy has evolved, adjusting institutionally
and structurally to the EU structures. Negotiations between the Republic of Bulgaria
and the European Council started in 1999 and in 2007 Bulgaria obtained the status of
the full member of the EU. An important aspect of integration with the European
structures was the introduction of the currency board in 1997. The Bulgarian lev was
initially pegged to the Deutsche Mark, then, with Germany adopting the euro in 1999,
to the European single currency. The process of integration with the EU has also
involved increased mobility of labour, the free movement of people remaining one of
the four fundamental rights of the EU.