Record Foreign Investments Drive Bulgaria's Growth
Today, the World Bank presents the report “Review of Public Finances in Bulgaria”, which examines revenues, efficiency, and effectiveness of state expenditures in various sectors
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Bulgaria ranks 38th out of 189 economies in the Doing Business 2015 report of the World Bank.
On some of the 10 topics covered by the report, Bulgaria’s s score remains unchanged, while on others it deteriorates.
The World Bank has applied a new methodology for Doing Business (DB) 2015.
Bulgaria’s position in the ranking deteriorates from place 36 in 2014 to the current level of 38, taking into account that the 2014 rankings have been adjusted and reflect data corrections.
Still, Bulgaria’s 2015 Doing Business score is better than in the Czech Republic (44), Romania (48), Hungary (54), and Greece (61).
Bulgaria’s weakest point remains the ease of getting electricity, with the country dropping from place 122 to place 125.
A business entity in Bulgaria needs over months (130 calendar days) to get electricity.
The world leader by ease of getting electricity is South Korea, where it takes 18 calendar days to get the service, while the best performing country in Europe is Germany, where the connection to the power grid takes 28 calendar days and 3 procedures.
As regards the topic of dealing with construction permits, Bulgaria drops one place to 101.
Bulgaria’s position in the segment of starting a business deteriorates from 41 to 49.
As regards the ease of getting credit, Bulgaria’s position also worsens, moving from place 19 to place 23.
On the topic of paying taxes, Bulgaria’s position deteriorates from place 84 to place 89.
Regarding the topic of enforcing contracts, Bulgaria loses one place, landing at place 75.
Bulgaria ranks 57th by registering property, 14th by protecting minority investors, 38th by resolving insolvency, and 57th by trading across borders in the 2015 edition of the report.
In the 2014 edition of the report, Bulgaria ranked 58th out of 189 economies, dropping one place from the 2013 report.
In the 2014 edition of the report, Bulgaria’s score deteriorated in all indicators except for the payment of taxes and trading across borders.
The Doing Business ranking provides an evaluation of the business regulations.
Economies are ranked on their ease of doing business, from 1–189, on 10 topics.
A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
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