Accelerated mass privatisation in transition economies

Following economic reforms, Bulgaria implemented a Mass Privatisation Programme in 1993. The initiative aimed to transition state-owned enterprises to private ownership, promoting market competition and efficiency within the economy. Under the programme, nearly 1,000 state-owned companies were privatized through vouchers distributed to citizens, allowing them to invest in shares of the newly privatized entities. This historic shift from state-controlled to private ownership had a profound impact on Bulgaria's economic landscape, fostering entrepreneurship and innovation while breaking the monopoly of government-run enterprises. As a result of the Mass Privatisation Programme, Bulgaria experienced a surge in economic growth and foreign investment, propelling the country towards a market-oriented economy. However, the rapid pace of privatization also led to challenges such as job losses and income disparities among citizens. Overall, the Mass Privatisation Programme in Bulgaria marked a significant step towards a free-market economy, transforming the country's economic structure and laying the foundation for sustainable growth in the years to come. #Bulgaria #Privatisation #EconomicReforms #MarketEconomy