By the end of 1925, more than half of Bulgaria's ten-year plan had been completed, and many of the projects that had been invested in the early stages had now come to fruition.

Up to now, Bulgaria's total industrial output has increased by 63% compared to 1921, and the average annual industrial growth rate is 13%, ranking first in the world.

On the other hand, Ferdinand's biggest rival, the British Empire, has been in a state of negative industrial growth in recent years, and not only has it not grown, but has fallen by nearly 13 percentage points compared with 1921.

Ferdinand was not surprised by this situation, as British industry was also in decline during the same period of history, and by the time the economic crisis of 1929 the British Empire accounted for only nine percent of the world's total industry, down by a third from 1913.

If it weren't for the help of the three North American countries to pull the data, the total industrial volume of the British Empire would actually be miserable, and the total industrial volume of the local empire would have been overtaken by Bulgaria.

The number of people working in manufacturing fell by a quarter from the previous year, and it is estimated that the decline would have been even greater had it not been for the chaos in Germany.

Despite the decline, the British Empire is still the world's largest industrial power, accounting for 30.6 percent of the world's total industry, followed by Bulgaria, accounting for only 18.3 percent of the world's total industry, and the gap between the two sides is still huge.

In contrast, the growth rate of industry in Germany and Italy is very impressive, with an annual growth rate of more than 10 percent, although only light industry is growing.

Italy's total industrial output has now surpassed its peak, and is nearly 18 percent higher than its peak in 1914.

Germany also returned to its 1907 industrial aggregate, a figure that would have been even higher had it not been for the sudden outbreak of the Ruhr crisis.

If Britain and France continue to transfer production capacity, it may not be a few years before Germany's industry recovers, and Italy will have the opportunity to overtake France and become the fourth largest industrial country in Europe.

Although Britain and France are declining in industry, their economic development is not slow at all, far exceeding the world's average economic growth level.

As a result of the dividends of deindustrialization, in 1925 the British economy grew at a rate of 6.3 percent and the French at a rate of 7.1 percent.

At least half of this growth was contributed by real estate, and in 1925 house prices in England rose by an average of more than 40 per cent, while in London they nearly tripled.

The average increase in house prices in France has also exceeded 20 percent, and in Paris it has increased by as much as 100 percent.

These are all inevitable, the British Isles are limited in size, and the rapid growth rate of house prices is also inevitable. By contrast, France is much larger, more than twice the size of the British, but the populations of the two countries are almost the same.

According to economists, the economic growth of Britain and France is contrary to the laws of the market, and the economy that has been artificially hyped up will have disastrous consequences once the bubble bursts.

However, it seems that every economic crisis in the capitalist world is artificially hyped up and regulated by the market itself, so how is it possible?

Capital is profit-seeking, and under the impetus of interests, there is nothing that capitalists dare not do.

"Your Majesty, this is a summary of the work of the government in 1925, please take a look!"

Konstantin said as he handed over a statement to Ferdinand. The summary of the work of the government is certainly not a table that can be put down, and what is handed over to Ferdinand is only a catalog.

The details of the work, if summed up, probably would not be able to pile up a room, and Ferdinand did not have the time to study it carefully.

After a cursory glance, as in previous years' reports, there was nothing new, nothing more than industry, agriculture, education, medical care, and economy.

What concerns him is that Bulgaria's agricultural development speed has begun to lag behind, even if he has increased agricultural input, but the development speed of agriculture has been overtaken by other industries.

If nothing else, this gap will get bigger and bigger in the future, and the scissors gap between industry and agriculture will continue to expand.

"Prime Minister, have you noticed that in 1925 Bulgaria's agricultural output increased by only eight percent, and this includes our newly developed arable land.

If after deducting this part, the actual agricultural growth rate will be even lower, then does it also mean that our rural economy has now developed to the limit? Ferdinand asked

"Your Majesty, this is the inevitable result, in the past few years, the rapid growth of our agriculture was based on the large-scale land reclamation of the military nobles, and now their land has been almost reclaimed, and the rapid growth has naturally stopped.

As for our rural economy, the development potential is no longer great, and some economists even believe that our rural economy will regress in the future.

Judging from the growth rate of income, in 1925, the growth rate of peasants' incomes was only 1.2 percent, while the growth rate of the average wage of the whole society remained at about 5.3 percent.

If nothing else, in less than twenty years, Bulgaria's agricultural population will be halved, and many of them will be transformed into an industrial population due to income differences!

Our land structure will also change, the situation of land annexation will become more serious, and a large amount of land will be concentrated in the hands of a small number of people, which has become a development trend. Konstantin analyzed

Ferdinand nodded slightly, he also knew these situations, with the development of science and technology, integrated agriculture is the future development direction, and the small-scale peasant economy has no development prospects.

Despite the fact that the per capita arable land area of the Bulgarian peasants is as high as 19.5 hectares (one hectare equals 15 acres), and in some areas all of them are considered landlords, this situation cannot be prevented.

Well, the average data are unreliable, and there are not a few of the Bulgarian nobles who have tens of thousands of hectares of land, and the Bulgarian agricultural company holds tens of millions of hectares of land, so it is very nonsense for the peasants.

In fact, the amount of land held by the peasants is very small, only 5.7 per cent of the land in Bulgaria, so that the land holdings of the majority of the population are only about 1 hectare.

This is also an inevitable consequence, although the rapid growth of the population of Bulgaria does not mean that the population of the peasants is also growing rapidly.

Although the rural population has the highest birth rate, most of these people choose to leave when they become adults, and everyone except the eldest son, who inherits the family business, has to go out to fend for themselves.

Moreover, there were a large number of immigrants in Bulgaria, and Ferdinand did not turn them into peasants, let alone do the stupid thing of distributing land, most of them turned into workers.

By 1925, Bulgaria's agricultural population had not exceeded 8 million, and this was taken into account the rural babies, and if you deducted those who were destined to go out to earn a living, the figure would be even lower, perhaps less than 5 million.

There is no difference between urban and rural household registration in Bulgaria, and it may only take a day to transition from a peasant to a worker, and from a worker to a peasant, you only need to buy a piece of land.

In this vast and sparsely populated country, restricting the settlement of the population is complete nonsense.

There is no interest to compete for, and the Bulgarian government will naturally not make restrictions.

Education is an elite education, not a genius, no matter how hard he works, it is impossible to be admitted to university, but after completing compulsory education, there is too much difference in the quality of education.

Not to mention medical resources, first of all, you have to have money, the medical expenses in this era are simply not affordable by ordinary people, and it is useless to fight for no money!

It is very easy to change your household registration in Bulgaria, as long as you live in one place for three years, have a legal income, and have no criminal record.

"Prime Minister, has the government considered that if the income of farmers is raised, you must know that with the continuous development of the economy, many rural people will become poor in the future with the poor relationship between industry and agriculture!" Ferdinand thought for a moment and said

"Your Majesty, this issue is very complicated, unless they can increase their land possession, the increase in income is very limited just by increasing production!

Even if it is to change to cash crops, it is not so easy, because of the supply and demand relationship in society, except for wheat and potatoes, the prices of other economic agricultural products are difficult to stabilize. Even if the government leads, there is no way to solve the problem.

For example, the price of apples is very high this year, but when everyone goes to plant apples, and after three or five years, the apple harvest will be harvested, and the price will naturally decline due to the increase in production, and in the end, not only will it not help the fruit farmers, but it will harm them to lose more. Konstantin explained

Ferdinand nodded, this is the inevitable result, unless there is a planned economy, according to the natural adjustment of the laws of the market, this situation is unavoidable.

"Well, this is a very serious social problem, and if nothing else, in twenty years our rural population will become poor.

We had to prepare in advance, for example: guiding them to work in the city, selling or contracting out the land; In areas with special conditions, special industries suitable for the local area can also be developed......" Ferdinand thought about it

In the middle of the 20 th century, the issue of peasant income was a worldwide problem. In comparison, Bulgaria's problems are relatively small.

Due to several wars, many peasants in Bulgaria evolved into military nobles, and after the rise of these people, they basically went to fiefdoms to develop.

Their departure has made the local land tension no longer exist and eased the contradiction between people and the land. Otherwise, this problem would not have to wait for twenty years, and now Ferdinand would have to consider the income gap between urban and rural areas.

Although in the long run, it is inevitable for the working class to earn more than the peasant class, but in the short term the living standards of the peasants will still be higher than those of the workers.

"Your Majesty, the conditions are not yet ripe, judging from the current economic situation in Bulgaria, it is too early to develop the tertiary industry, and the tourism industry in our country that has just started is still struggling.

It's easy to create tourist attractions, but it's not profitable in the short term, and people's income is still very limited, and their enthusiasm for tourism is not high.

As for other special industries, in fact, the Ministry of Agriculture has been engaged in them for a long time, planting some special products according to local conditions, but the current output value is limited.

The most representative is the Rose Industrial Park, but this kind of success cannot be replicated, and other regions do not have this particularity! Konstantin explained

Ferdinand nodded, not all industries can create an industrial chain, such as roses, which belong to Bulgaria's special industry, although it also exists in other places, but there is no way to compare with Bulgaria in terms of quality.

This is the core factor of the success of the Ferdinand Rose Industrial Park, the whole world knows that Bulgarian roses are the best, and the brand value has been born.

Whether it is when choosing rose essential oil, rose drink, rose wine, ordinary people's first reaction will be Bulgaria.

God's backyard is the best advertising word!

Under Ferdinand's operation, this sentence has been deeply rooted in the hearts of the people. The additional brand value is reflected in the interests, and the success of the Rose Industrial Park is not as simple as it seems.

In contrast, Ferdinand's wine industry chain, which is still operating, has much worse development potential and incomparable profitability.

The brand of French wine has been established, and Bulgarian wine has to be relegated to the bottom line, and although it is not yet a winner-takes-all, the winner still takes the largest share.

It is impossible to achieve a counterattack in the short term, and it is difficult to establish a Bulgarian wine brand without dozens of hours of hard work.

If you can't build a brand, you will naturally have no brand value, so the profit will be very limited.

In the end, the profits are fed back to the grape planting, and the profits of the wine are not high, so the income of the grape growers is naturally not high.

Ferdinand recalled that in such a large area of Bulgaria, there were still those specialties and agricultural products that had the possibility of international promotion, and finally found that there were many things, but not many of them had economic value.

For example: handmade leather shoes, handicrafts, corals in Serbia; tourism, fruits in the Greek region; carpets, dates from the Arabian Peninsula; Plant resources of the Asia Minor Peninsula......

These industries may have room for development in the future, but none of them have any economic value during this period.

People all over the world are not rich, isn't it nonsense to develop these industries? If you can't get enough to eat, who is still interested in traveling?

Tourism can't develop, who can these industrial souvenirs sell to?

The same is true for fruits, there are too few people with spending power, most people can only afford cheap local fruits, and high-end imports are too luxurious.

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