Stefan Stambolov and the People's Liberal Party …

Years: 1888 - 1899

Stefan Stambolov and the People's Liberal Party he had founded in 1886 exert virtually dictatorial power to suppress extreme nationalism and opposing parties and create conditions for economic growth in Bulgaria.

After the 1886 coup, the army has been strictly controlled.

Voters are intimidated to ensure the reelection of incumbent officials, and political patronage grows rampant.

Using his own and Prince Ferdinand's ties with Germany and Austria-Hungary, Stambolov builds a capitalist Bulgarian economic system on foreign loans, protectionism, an expanded industrial and transport infrastructure, and a strict tax system for capital accumulation.

Especially important to the Bulgarian economy is completion of the Vienna-to-Constantinople Railway through Bulgaria in 1888 and the Burgas-Yambol Railway in the early 1890s.

Stambolov derives strong political support from the entrepreneurs who benefit from his industrial policy.

The Stambolov era marks the victory of executive over legislative power in the Bulgarian political system.

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