Many countries in the region of southeast Europe had a double-digit inflation rates in the late 90s. However, after a transitional period of reforms all the countries managed to slow the price hike speed to a single-digit numbers with Macedonia reporting record low annual inflation of 2.9% last year.
In the past several years the countries in southeast Europe reported high economic growth but it was associated with rising external imbalances in several states. The regional economies are facing overheating due to the large current account deficits and high levels of external debt. Moreover, some countries report high external debt levels and balance sheet exposures, which could be a source of additional problems.
The Cyrillic alphabet was developed in the First Bulgarian Empire in the tenth century to write texts in the Old Church Slavonic liturgical language...
The Cyrillic alphabet was developed in the First Bulgarian Empire in the tenth century to write texts in the Old Church Slavonic liturgical language. The alphabet that was originally created by St. Cyril and St. Methodius is known as the Glagolithic alphabet (Glagolica). One of their disciples, Clement of Ohrid (Kliment Ohridski), simplified the Glagolica into a new alphabet which was called Cyrillic. In the following centuries this alphabet was adopted by other Slav peoples - Russians, Croats, Serbs, Belarusians and Ukrainians. With the accession of Bulgaria to the European Union on January 1, 2007 the Cyrillic alphabet became the third official alphabet of the EU.