es an estimated 45% of the national income. An estimated
350,000 tourists, mainly from the US, visited the islands in 1997.
In the mid-1980s, the government began offering offshore
registration to companies wishing to incorporate in the islands, and
incorporation fees now generate substantial revenues. An estimated
250,000 companies were on the offshore registry by yearend 1997. The
adoption of a comprehensive insurance law in late 1994, which
provides a blanket of confidentiality with regulated statutory
gateways for investigation of criminal offenses, is expected to make
the British Virgin Islands even more attractive to international
business. Livestock raising is the most important agricultural
activity; poor soils limit the islands' ability to meet domestic
food requirements. Because of traditionally close links with the US
Virgin Islands, the British Virgin Islands has used the dollar as
its currency since 1959.

Brunei:
This small, wealthy economy is a mixture of foreign and
domestic entrepreneurship, government regulation and welfare
measures, and village tradition. Exports of crude oil and natural
gas account for over half of GDP. Per capita GDP is far above most
other Third World countries, and substantial income from overseas
investment supplements income from domestic production. The
government provides for all medical services and subsidizes rice and
housing. Brunei's leaders are concerned that steadily increased
integration in the world economy will undermine internal social
cohesion although it became a more prominent player by serving as
chairman for the 2000 APEC (Asian Pacific Economic Cooperation)
forum. Plans for the future include upgrading the labor force,
reducing unemployment, strengthening the banking and tourist
sectors, and, in general, a further widening of the economic base
beyond oil and gas.

Bulgaria:
Bulgaria, a former communist country struggling to enter
the European market economy, suffered a major economic downturn in
1996 and 1997, with triple digit inflation and GDP contraction of
10.6% and 6.9%. The current government - which took office in May
1997 after pre-term parliamentary elections - stabilized the economy
and promoted growth by implementing a currency board, practicing
sound financial policies, invigorating privatization, and pursuing
structural reforms. Additionally, strong assistance from
int