A member of the European Union since 2007, Bulgaria is a small, strategically located country in Europe's southeast corner offering interesting opportunities for U.S. companies in infrastructure development, IT and agriculture. Bulgaria boasts one of Europe's lowest public deficit rates and will likely grow at a rate of 1 percent in 2013. Bulgaria has the lowest tax rates in the region - ten per cent rate both on personal income and on corporate income. The global financial crisis has slowed investment growth, particularly in the real estate and manufacturing sectors. Bulgaria has managed to weather the global financial downturn through strict fiscal discipline. The currency peg to the Euro and fixed exchange rate are seen as a source of stability. Local demand will remain low due to limited allocation of consumer loans and a 11% jobless rate. Other risks include political uncertainties and relatively weak rule of law. U.S. companies are successfully conducting business across the major industry sectors. The top foreign investor in Bulgaria is a U.S. company. EU membership will continue to result in funding for infrastructure projects, provided that the Bulgarian government procedures are efficient and transparent. Due to its geographical location, Bulgaria is an excellent launching pad for sales into the European Union, Russia, Turkey and the Middle East. Bulgaria joined NATO in 2004 and is participating in joint operations. The general attitude in Bulgaria is pro-American and the Bulgarian market is receptive to American goods and services.