Bulgaria Ranks 56-th of 60 Countries in World Competitiveness Ranking
Bulgaria ranks 56-th among 60 countries in the World Competitiveness Ranking 2014, issued by the Swiss Institute for Management Development.
The country has risen by one spot from the 57-th position in 2013, when was the lowest point since 2066, but is far from the best position – 38-th in 2009.
According to the Bulgarian partners of the Institute for Management Development, the Center for the Study of Democracy (CSD), this was a sign that the Bulgarian government and business leaders fail to establish stable preconditions for competitiveness.
The three main factors, causing concern are the low level of education, lack of access to fresh financial resources, combined with continuous deflation and low confidence in the government and the institutions.
Among the positives of Bulgaria's economy are the improved export positions and the stable public finances. According to the report, even though the labour crisis is on the wane, unemployment levels remain high.
The annual report of the Swiss institute ranks the overall performance of the world's 60 most developed economies, considering 300 indicators, including economic efficiency, government policies, business environment and infrastructure.
The most competitive country, according to the report, is the USA, retaining the top position from last year. It is followed by Switzerland, Singapore and Hong Kong. The highest ranking EU member is Sweden – fifth place, followed by Germany on the sixth.
Bulgaria is preceded by Slovenia and is followed by Greece, Croatia and Venezuela.
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