Bulgaria Ranks 47th in Economic Freedom Index

Business | February 16, 2017, Thursday // 18:35| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Bulgaria Ranks 47th in Economic Freedom Index BGNES

Bulgaria ranks 47th in the world in terms of economic freedom, showed a ranking of the American Heritage Foundation.

According to the ranking, Bulgaria ranks right behind Kosovo (46th) and ahead of Cyprus (48th).

The transition of our country to a more open and flexible economic system has been facilitated by the restructuring carried out, showed the index of economic freedom.

The competitive flat tax and the system of open trade, supported by a relatively effective regulatory frame, encourage the development of the growing private sector.

According to the analysis on Bulgaria, the management of public finances is also at a satisfactory level, while the levels of public debt continue to be among the lowest in the region and the budget deficit continues to decrease.

In spite of this, Heritage has made several criticisms with respect to insufficient institutional reforms which are especially necessary in spheres like judicial effectiveness and government integrity.

 

Business » Be a reporter: Write and send your article
Tags: economic freedom index, Heritage Foundation, budget deficit, public debt, flat tax, trade
Expats.bg All Are Welcome! Join Now!
Advertisement
Advertisement
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria