BNR: The US Designates Bulgaria a Developed Country
The US designated Bulgaria a developed country. The measure makes it easier for Washington to launch investigations and impose customs and other penalties if it finds unlawful subsidies or commercial practices, BNR reported.
The US contends that Bulgaria and Romania should not be treated as developing countries since the whole EU is considered developed economy in trade. However, the analysis of the World Bank shows that in the two countries the annual income per capita is under USD 12,375 which sends them in the group of average-income economies which still need assistance for development.
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