Greatest progress in economic freedom of Bulgaria show the international classifications – 2017

Traditionally, in the end of each year, BCCI reviews Bulgaria’s place in the most popular international classifications. The reports of prestigious international institutions in 2017 show a significant improvement of the country’s positions according to economic freedom, as well as small positive changes in competitiveness.

Bulgaria goes up 13 places in the “Economic Freedom Index” of the Heritage Foundation and the Wall Street Journal – from 60^th place in 2016 to 47^th place in 2017. In the other classification, however, of the Canadian Fraser Institute - “Economic Freedom of the World”, the country is down 3 places to 48^th position but in the making of the ranking, data for the countries from 2015 have been used.

In the new edition of the World Economic Forum “Global Competitiveness Report” 2017-2018, the country goes up one position and occupies 49^th place in comparison to 50^th place in the previous edition. The country occupies 25^thplace worldwide according to macroeconomic stability and under this sub-criterion Bulgaria continues to receive high ratings. In the other well-known classification reporting on competitiveness – the “World Competitiveness Ranking” of the International Institute for Management Development (IMD), Switzerland, Bulgaria also climbs up one place, from 50^th place in 2016 to 49^th place in 2017.

Bulgaria’s position in the “Prosperity Index” of the Legatum Institute, London also improves – from 57^th place in 2016 the country climbs to 51^st place in 2017.

The country still has little success in innovation and this is the area in which the business and the state have to focus their efforts to achieve progress. Bulgaria goes up only one place – to 38^th place in the “Global Innovation Index 2017” compared to 39^th place in last year’s ranking.

With regard to the “Index of Globalisation” of the KOF Economic Institute, the country goes down 8 places (30^thplace in 2016) and in 2017 occupies 38^th place. Negative trends are also reported in the “Property Rights Index”, according to which the country drops from 66^th place in 2016 to 85^th place in 2017.

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: o.chugunska@bcci.bg .