In 1994 Bulgaria had a short economic boom. But that slowed down in 1996 from bad finance deals and other banking problems. In 1997 there was high inflation (the money could not buy as much as it did before). Retired people had little income (their pension did not go up as fast as inflation did) and their savings were not worth very much. Many retired people were begging in the streets for food. But since then the economy has grown steadily. People from outside the country started putting money into businesses and houses, and Bulgarians learned how to make their own businesses.