Chamber of Commerce and Industry Presents 12th Edition of Bulgaria in Figures Brochure
NW 14:04:01 22-07-2021
DD1407NW.110
110 ECONOMY - CHAMBER OF COMMERCE AND INDUSTRY - BROCHURE
Chamber of Commerce and Industry
Presents 12th Edition of
Bulgaria in Figures Brochure
Sofia, July 22 (BTA) - The Bulgarian Chamber of Commerce and Industry (BCCI) Thursday presented the 12th edition of Bulgaria in Figures, an annual brochure that gives an overview of 27 rankings by international institutions and organizations reflecting Bulgaria's position according to various criteria of interest to investors, such as business environment, health care, rule of law, competitiveness, and digitization.
Bulgaria improved its position in the Heritage Foundation's Index of Economic Freedom 2021, moving to 35th place from last year's 36th. The country's performance improved in categories such as property rights, business freedom, and tax burden.
Bulgaria also improved its overall score in the Legatum Institute's Prosperity Index, reaching 48th place in its latest edition. The country's best score is on the Economic Quality and the Education pillars of the Index, and the lowest score is on the Social Capital pillar.
Bulgaria fell from 111th to 112th place in Reporters without Borders' 2021 World Press Freedom Index, thus ranking at the bottom of the EU. This worsening of the media environment is largely due to the lack of investigations and convictions for violence against journalists.
The country's performance worsened in the Institute for Management Development's (IMD) World Competitiveness Ranking 2021, where Bulgaria ranked 52nd out of 63 countries, compared to its 48th place in the 2020 ranking. According to the IMD's study conducted in partnership with the BCCI in 2021, the Bulgarian economy continues to grow but at a slower pace, and it is still a long way from its potential. The main challenges Bulgaria is facing this year include: political instability; slow rate of mass vaccination against COVID-19; limited access to e-government; slow energy transition and high energy costs for businesses; quality of higher education lagging behind; brain drain; lasting problems in the area of governance; and corruption.
The BCCI expressed the hope that the 12th edition of Bulgaria in Figures will give investors a clearer idea of the country's business environment. According to the Chamber, stepping up efforts to remove the weaknesses in this environment identified by various rankings will create conditions for stronger entrepreneural interest in Bulgaria.
RI/DS
//
DD1407NW.110
110 ECONOMY - CHAMBER OF COMMERCE AND INDUSTRY - BROCHURE
Chamber of Commerce and Industry
Presents 12th Edition of
Bulgaria in Figures Brochure
Sofia, July 22 (BTA) - The Bulgarian Chamber of Commerce and Industry (BCCI) Thursday presented the 12th edition of Bulgaria in Figures, an annual brochure that gives an overview of 27 rankings by international institutions and organizations reflecting Bulgaria's position according to various criteria of interest to investors, such as business environment, health care, rule of law, competitiveness, and digitization.
Bulgaria improved its position in the Heritage Foundation's Index of Economic Freedom 2021, moving to 35th place from last year's 36th. The country's performance improved in categories such as property rights, business freedom, and tax burden.
Bulgaria also improved its overall score in the Legatum Institute's Prosperity Index, reaching 48th place in its latest edition. The country's best score is on the Economic Quality and the Education pillars of the Index, and the lowest score is on the Social Capital pillar.
Bulgaria fell from 111th to 112th place in Reporters without Borders' 2021 World Press Freedom Index, thus ranking at the bottom of the EU. This worsening of the media environment is largely due to the lack of investigations and convictions for violence against journalists.
The country's performance worsened in the Institute for Management Development's (IMD) World Competitiveness Ranking 2021, where Bulgaria ranked 52nd out of 63 countries, compared to its 48th place in the 2020 ranking. According to the IMD's study conducted in partnership with the BCCI in 2021, the Bulgarian economy continues to grow but at a slower pace, and it is still a long way from its potential. The main challenges Bulgaria is facing this year include: political instability; slow rate of mass vaccination against COVID-19; limited access to e-government; slow energy transition and high energy costs for businesses; quality of higher education lagging behind; brain drain; lasting problems in the area of governance; and corruption.
The BCCI expressed the hope that the 12th edition of Bulgaria in Figures will give investors a clearer idea of the country's business environment. According to the Chamber, stepping up efforts to remove the weaknesses in this environment identified by various rankings will create conditions for stronger entrepreneural interest in Bulgaria.
RI/DS
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