Bulgaria Has Improved In 16 of the 26 World Economic Rankings

Bulgaria has improved its position in 16 of the 26 world economic rankings. This is indicated by the data from the Bulgaria in Figures survey of the Bulgarian Chamber of Commerce and Industry. However, in 8 charts we have a deterioration in terms of key indicators. Where we have progress and what we have not achieved – the data is summarized by Victoria Boyadzhieva from BNT.

World charts are a compass for big investors, according to the Bulgarian Chamber of Commerce and Industry.

And the World Bank ranking shows that the environment for doing business in Bulgaria has deteriorated. This year we are down 9 positions. According to the Chamber of Commerce analysis, the reason is that more persistent reforms are being made in other countries against the background of inactivity in some areas in our country. The ranking also shows that it is easier to do business in Romania, Serbia and Northern Macedonia, which is ranked 11th.

The conditions for opening and closing a company because of the heavy bureaucracy are also particularly favourable. According to the indicator of receiving credits there is a decrease with the whole 18 positions.

We are making progress in issuing building permits, investor protection and contract execution.

And in the rule of law ranking we are 54th out of 126 countries. For comparison, Romania ranks 31st for us, and Serbia only 78th.

Tsvetan Simeonov – Chairman of the Bulgarian Chamber of Commerce and Industry: Some steps have been taken, but obviously this is not enough. It gets faster and harder in other countries. If we do not improve our positions there, in spite of the macroeconomic indicators we will have difficulties in attracting investors. We will also start having difficulties with the fact that some Bulgarian companies will prefer other destinations for expanding or transferring their production.

In the same ranking, our performance on corruption indicators and government restrictions is the worst. According to other studies, economic freedom in our country has increased significantly – by 10 points, we are more competitive and we have prosperity.

We are in the top 10 in terms of attractiveness to outsourcing companies, and our advantages include low taxes and the state of the 4G network.

Read More

Tesla Eyes Expansion In Bulgaria

The company of Elon Musk - Tesla Inc. plans to expand also in Eastern Europe as it seeks to establish itself in more geographical markets. The...

Bulgaria Joins Group Of Countries Against UN Migration Pact

Bulgaria on Monday joined the growing ranks of European Union nations opposed to a United Nations pact that aims to regulate the treatment of...

International Tourism Revenues In Bulgaria Have Increased

International tourism revenues in Bulgaria over the January-November 2019 period amount to EUR 3.6 billion, the Bulgarian National Bank has announced, BNR reported. Even though...


Property Acquisition Checks On Top Officials To Be Mandatory

Bulgaria’s Chief Prosecutor Sotir Tsatsarov has ordered checks into property acquisitions by the Head of the anti-corruption commission, Plamen Georgiev, the son...

Wage Growth Is Slowing Down

In the first quarter of 2018, the rate of wage growth in the euro area and across the European Union improved compared to the...

20 Million BGN Allocated For New Ambulance Helicopters

BGN 20 million has been provided for ambulance helicopters. The funds will come after talks with the European Commission on the Operational Program "Regions in...