Facts proved that Bulgaria's new economic policy was highly effective. Through forceful government intervention in the market and increased fiscal investment in infrastructure, it had managed to preserve jobs.
Although many enterprises had now gone off course, and many national capitalists had been forced into the work of contractors, these were minor details. Compared with the unemployment wave sweeping European countries at the time, the Bulgarian people were still fortunate—at least they still had work!
In the latter half of 1899, the global economy drifted amid storm and rain. After entering 1900, the economic crisis truly began to exert its force. Following six years of prosperity, many industries across the capitalist world faced massive overproduction, with the Russian financial crisis serving as at least one of the fuses.
Not one of the world's major industrial powers could remain untouched. Basically, the more developed its industry and the more prosperous its economy, the greater the blow it suffered!
The emerging nations suffered especially severe losses. Emerging countries such as Bulgaria had missed the frenzy of carving up the world, and their domestic industrial and commercial goods lacked sufficient markets.
Everyone had no choice but to consider using the swords in their hands to seize more land for their plows. Thus, this economic crisis would also have an enormous impact on the future world order!
The newly rising nations made different choices one after another. Bulgaria had only just crossed the threshold into the ranks of industrial nations, and its total industrial output was still not large.
By tapping domestic demand and implementing trade protection measures, Ferdinand increased government investment in infrastructure to weather the crisis. Coupled with the mass migration consuming huge quantities of supplies, Bulgaria was the first to emerge from the economic crisis. By the end of 1900, it