Improved competitiveness of Bulgaria show the international classifications – 2016

After 2-year-standstill in Bulgaria’s competitiveness ranking (54^th), in the new edition of the classification of the World Economic Forum “Global Competitiveness Report” the country goes up 4 positions and occupies 50^th place. The country’s macroeconomic stability remains among the best evaluated criteria included in the index.

In the other famous classification of competitiveness - the “World Competitiveness Ranking” of the International Institute for Management Development (IMD), Switzerland, the position of Bulgaria has also improved from 55^th place in 2015 to 50^th place in 2016.

The reverse tendency is observed in Bulgaria’s position according to economic freedom – the country loses places in both economic freedom classifications – in the “Economic Freedom Index” it ranks 60^th in comparison to 55^th place in 2015, while in the index of the Canadian Fraser Institute “Economic Freedom of the World”, Bulgaria ranks 45^th as compared to its 42^nd place in 2015. The worst performance of the country is according to the criteria showing the structure of the legal system, the security of private property and business regulations.

In the “E-Government Readiness Index” the country registers growth – from 73^rd place in the previous edition of the ranking to 52^nd place in 2016. In the “Logistics Services Index” the reverse tendency is observed – the country’s position drops from 47^th in 2015 to 72^nd place in 2016.

There is slight improvement in the country’s performance in relation to innovation – Bulgaria climbs up one place to 38^th position in the “Global Innovation Index 2016”. In terms of ecology Bulgaria ranks 33^rd in comparison to 41^st place in last year’s classification.

The change is Bulgaria’s position in the World Bank report “Doing Business” is insignificant – 39^th place compared to 38^th place in 2015. Of the Balkan countries, only Macedonia and Romania have more competitive positions than Bulgaria. As far as Bulgaria’s attractiveness for risk capital investors and private equity funds is concerned, there is no significant change in the country’s position – 55^th place in the 2016 index, as compared to 54^th place last year.

For additional information regarding Bulgaria’s position in the world economic indices and classifications, please contact BCCI’s “Economic Analyses and Policy” Department, tel.: +359 2/8117 411; 8117 410, e-mail: ikan@bcci.bg