BULGARIA RANKS 108 IN ECONOMIC FREEDOM

Business | December 22, 2001, Saturday // 00:00

Bulgaria ranks 108th in terms of economic freedom, according to the Wall Street Journal rating of 156 counties. Thus Bulgaria classifies in the group of countries with limited economic freedom. In November the World Bank assessed the economic future of Bulgaria as “good” in comparison with other countries. The Bank predicted that although Bulgaria is not in recession the economic growth will slow down. According to Peter Steck, Director of the Dutch group of states, including Bulgaria, in case the Cabinet puts its intentions into practice, Bulgaria may get no m more than USD 750 M in 3 years under the World Bank strategy. The European Commission 2001 report classifies Bulgaria’s economy as close to "functioning market economy". UN Economic Committee's report for transitional economies, operating in a Currency Board system, including Bulgaria, stressed that the collapse of international stock exchanges and markets makes it impossible for these countries to improve the situation by conducting their own fiscal policy.
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