INTRODUCTION
After its Liberation in 1878, Bulgaria proceeded to build up a
legal system which was to lay the foundations of a democratic
society, with private enterprise being the chief driving force of
the economy.
Following the socialist revolution in 1944, the legal system and
legislation served the purpose of fortifying the economic framework
of socialist society. A number of laws adopted in the first years
of socialism put public property and socialist planned economy in
the foreground. Private property was rejected and certain laws were
passed stipulating the expropriation of private means of
production, the collectivization of farm land, and finally, the
nationalization of personal property of citizens - housing, and
others.
The changes that took place in Bulgaria in 1989 brought about
the onset of speedy passing of legislation to allow the transition
from a socialist planned economy to market economy. There began a
process of reestablishment of the pre-1944 democratic legal
traditions and adoption of modern legislation tendencies in the
advanced western countries.
The objective of the present paper is to provide an overview of
the legal framework of the private sector by considering the
following aspects:
1. Legal framework of property.
2. Legal status of commercial entities and their interrelations in
the process of carrying out economic activity.
3. Taxation.
4. Legal framework of foreign investments and their role for
private sector development
5. Legal framework of competition.
Top
of page
|