Abstract
The COVID-19 has changing the business and has impacted the national economic system. As a result, not just the international trade has been reduced, but there is a sufficient change of the national and global value chains. Thus, the COVID-19 pandemic has not equally impacted on different countries and sectors. Even though the full lockdown has been applied just for 3 months as the preliminary results shows the Bulgarian economy is moved on the back of the EU economies with decrease of 6% for the last years and some of the sectors was shrinking with more than 50% for the last year. The paper analyses the internal change of the Bulgarian economic system and covers analysis of labour and innovation added value to the economic growth in Bulgaria. The analysis opposes the Economic growth before and during the COVID-19 crises. It will be a good starting point to analyse the national economic anti-pandemic measures. The paper aims to analyse what was gone wrong and what was done good insight the Bulgarian economy as result of the COVID-19 pandemic’s economy transformation. The analysis is good starting point for post-pandemic development measures that are needed for fast economic recovery in the next few years.
Highlights
From the legal point of view, the problem is just on the beginning to be deeply investigated as the COVID-19 rules were reflected in the adoption of the (Bulgarian) Law on Measures and Actions during the State of Emergency, declared by a decision of the (Bulgarian) National Assembly of March 13, 2020, and of certain acts of Council of Ministers and of the Minister of Health
Major crisis points (GFC 2008-2009) and Covid-19 crisis (April 2020) are reflected in a decrease in the growth rates of imports and exports as follows: o Oct.2008: Production falls by 8.5%, imports - by 8.5% and exports - by 3.6% o Apr 2020: Production falls by 6.0%, imports - by 6.7% and exports - by 3.3% Analyzing the dataset of the [equation 5], there is found a strong dependence between Production change and Import and Export (Figure 4)
The results significantly prove that the change of the Export is prior to production growth after any crises. This is a result of inclusion of Bulgarian industry in newer and newer Global added-value chains (GVC)
Summary
From the legal point of view, the problem is just on the beginning to be deeply investigated as the COVID-19 rules were reflected in the adoption of the (Bulgarian) Law on Measures and Actions during the State of Emergency, declared by a decision of the (Bulgarian) National Assembly of March 13, 2020, and of certain acts of Council of Ministers and of the Minister of Health. COVID 19 pandemic leads to significant changes in social life and relations in Bulgarian society. It is assumed that the families who are experiencing most seriously the negative consequences of the pandemic in Bulgaria are predominantly families of: lowstatus groups; vulnerable groups; incomplete nuclear families; with low socio-economic status; low-income families or unemployed; families with young children (in preschool or school age). These should include single-member households, which experience serious harmful economic and social consequences. The quality of life of the Bulgarian family decreased
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