Positive trends for Bulgaria’s prosperity according to international rankings

Based on the 2018 reports of prestigious international institutions

The Bulgarian Chamber of Commerce and Industry (BCCI) conducted an annual review of Bulgaria’s positions in international rankings and classifications. Based on the 2018 reports of prestigious international institutions, the country shows stable positions in terms of economic freedom, prosperity and competitiveness.

Bulgaria retains its position in the “Economic Freedom Index” of the Heritage Foundation and the Wall Street Journal and goes up two places to 46th in the “Economic Freedom of the World” report of the Canadian Fraser Institute.

Positive trends are observed in the “E-Government Readiness Index” and the United Nations “Human Development Index”, in which the country climbs up 5 places - from 52nd in 2016 to 47th in 2018 and from 56th to 51st place in 2018, respectively. The Legatum Institute, London has estimated positively the country’s prosperity – going up with 4 positions among 149 countries, thus reaching 47th place.

Bulgaria goes up 22 places on the Property Rights Alliance’s “Property Rights Index” – reaching 63rd position as compared to 85th in 2017, also improving its position as compared to 2016 when the country was ranked 66th. In the World Bank’s “Logistics Performance Index” the country climbs 20 positions, reaching 52nd place. The Yale Center for Environmental Law and Policy raised the country’s environmental performance by 3 positions.

We also cannot ignore Bulgaria’s negative positions in the world charts. In the 2019 edition of the World Bank’s “Doing Business Report” the country drops 9 positions down to 59th place, as compared to its 50th place in the previous year. Meanwhile China, which in the 2018 report was ranked 28 positions behind Bulgaria, has increased its place by 32 positions, reaching 46th place. In the Forbes magazine’s “Best Countries for Business” list, the country also drops 12 positions to 46th place.

The country has a slight success with 2 places up in the “World Digital Competitiveness Ranking”, reaching 43rd place. The main indicators in the ranking are knowledge, technology and future readiness. These precisely are the areas in which the business and the state have to focus their efforts to make greater progress, because Bulgaria is still falling behind as regards digitalisation and implementation of Industry 4.0 by the enterprises.

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


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