Bulgaria is 43rd in the World in terms of Economic Freedom

Business » FINANCE | September 20, 2023, Wednesday // 11:12
Bulgaria: Bulgaria is 43rd in the World in terms of Economic Freedom

Economic freedom in Bulgaria continues to decrease according to the "Economic Freedom of the World 2023" study published today by the Institute for Market Economics (IME) in collaboration with the Canadian Fraser Institute, ranking the country 43rd among 165 countries and territories.

According to economist Zornitsa Slavova from the IME, the ban on the import of Ukrainian goods violates basic commercial principles. "The market logic is for free trade, this lowers prices, also ensures competition and quality. To determine the degree of economic freedom, indicators such as the protection of property rights, the judicial system, the size of government, inflation, regulations, as well as the difficulties faced by businesses and citizens," she explained.

According to her, the problems are initial. "Yesterday's survey is based on data from 2021. In our country, the legal system remains the weakest area. We have a problem with low trust in the judicial system and the impartiality of the courts. And this is the basis that attracts investments and guarantees freedom. The adoption of the flat tax, which reduces taxes, low duties, freedom of movement, money and people, as well as a stable currency, these are our strong points," the economist pointed out.

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Tags: economic, Bulgaria, index, Economist
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