Bulgaria Ranks 46th Out of 162 Countries by Еconomic Freedom

Bulgaria ranks 46th out of 162 countries and territories included in "Economic Freedom in the World: An Annual Report 2018" prepared by the Canadian Frazier Institute and distributed by the Institute for Market Economics - Bulgaria. The report presents 2016 information because this is the last year for which official data is available for all countries.

Top 10 include Hong Kong, Singapore, New Zealand, Switzerland, Ireland, the United States, Georgia, Mauritius, Britain, Australia, and Canada. The points are from 0 to 10, with 10 points corresponding to maximum economic freedom.

The result of Bulgaria in this year's survey is 7.41 points out of the maximum 10 points, which places the country on 46th place. Botswana and Peru are just before Bulgaria, and Uganda and Mongolia - after.

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The assessment is based on the following indicators:

Government size (7.02 points) - The overall result here is reduced due to the amount of government spending and government transfers and subsidies.

The judicial system and property rights (4.83 points) - Bulgaria continues to receive the lowest rating for this group of indicators.

Access to safe and stable money (9.44 points) - in this category Bulgaria has been awarded the highest rating for years.

Freedom of International Trade (8.12 points) - the result reflects the low tariffs in international trade

Credit, labor, and business regulation (7.61 points) – it is a result of the relatively weak regulation of credit markets and heavy labor and business regulations.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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