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Introduction

In its 1997 Opinion on Bulgaria's application for EU membership, the Commission concluded:

``Bulgaria's progress in the creation of a market economy has been limited by the absence of a commitment to market-oriented economic policies; it would not be able to cope with competitive pressure and market forces within the Union in the medium term''.

In its 2001 Regular Report the Commission found that:

``Bulgaria is close to being a functioning market economy. It should be able to cope with competitive pressure and market forces within the Union in the medium term, provided it continues implementing reform and intensifies the reform effort to remove persistent difficulties''.

In examining economic developments in Bulgaria since the Opinion, the Commission's approach was guided by the June 1993 conclusions of the Copenhagen European Council, which stated that membership of the Union requires:

  • the existence of a functioning market economy;
  • the capacity to cope with competitive pressure and market forces within the Union.
In the analysis below, the Commission has followed the methodology applied in the Opinion and in the previous Regular Reports. The analysis in this year's Regular Report takes stock of developments since the Opinion was drafted.
© EU Commission -- 2003-03-30
 
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