Bulgaria climbs up to the 28th position in the world in terms of economic freedom

Bulgaria climbed up to the 28th position in the world and to the 13th position in the European Union (EU) in terms of economic freedom, according to the recent report of the Canadian Fraser Institute. The overall ranking includes 141 countries, representing 95% of the world population. The data covered 42 indicators for 2009, since it was the last year for which official figures were available for all countries.

Over the last decade, economic freedom has been spreading relatively quickly in our country. In 2000, Bulgaria was ranked 109th in the world. Five years later, in 2005, the ranking placed us at the 59th position, while, in 2007, we were ranked at the 76th place. During these years, Bulgaria marked the most serious growth in terms of the "size of government" and "access to safe and stable funds", which means that we registered less government spending, a lower number of state-owned companies, lower taxes and stable funds, explained the Institute for Market Economics (IME), which represents Fraser in Bulgaria.

At the beginning of the year, the Heritage Foundation ranked us at the 60th place in a similar ranking.

The good performance of Bulgaria was mainly due to the category "access to safe and stable funds" and in particular to the indicators linked to inflation, commented the IME.

In 2009, when the crisis hit Bulgaria most seriously, the inflation rate was within 2-3%, while in the previous year of still rapid growth, it exceeded 10%. The most problematic field remains "legislative structure and the inviolability of private property", where we marked a decline over the years. Besides, the results for the indicators "impartiality of courts" and "court independence" were very low.

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