Blackwell Reference Online

Extract

In the early 1990s Bulgaria began a slow transition from the former communist state-directed economy to the market economy. Initially, the Bulgarian Socialist Party (BSP), the former Communist Party, took the responsibility to lead the country after electoral success in the first free elections held in June 1990. However, economic conditions in Bulgaria became worse and undermined the domestic and international prestige of the government led by Andrei Lukanov – in April 1990 the Cabinet stopped payment of the foreign debts of the country, the level of foreign investments was low, and reforms did not begin. Social discontent grew in the autumn of 1990 because of lack of basic foodstuffs. In September queues in the shops began and the government set up coupons for certain foodstuffs. In this situation in November 1990 street protests and strikes began. The demonstrators wanted the resignation of the government. The trade union Podkrepa organized a political strike in the entire country which increased the tension and threatened social turmoil. On November 29, 1990 Lukanov resigned. In the following years governments followed inconsistent reform policies which led to a fall in living standards. In December 1994 the BSP won the parliamentary elections and formed a new government, but it could not solve the economic and political crisis in the country. Furthermore, during the rule of ... log in or subscribe to read full text