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. Last Updated: 07/27/2016

Bulgaria Economy Lags

SOFIA () -- Bulgaria's inflation was 310.8 percent last year, a clear sign that the impoverished Balkan country is increasingly lagging behind its former Soviet bloc allies in Europe.

Western analysts say the economic woes reflect foot-dragging on reforms of the economy, which is 90 percent state-run. Rising imports, falling exports and a $10 billion foreign debt have drained foreign exchange reserves and sent the national currency, the lev, into a tailspin.