site.btaBulgaria Ranks 37th in Fraser Institute's Latest Economic Freedom Report
NW 18:44:01 12-09-2019
DS1842NW.116
116 ECONOMY - ECONOMIC FREEDOM - BULGARIA - REPORT
Bulgaria Ranks 37th
in Fraser Institute's Latest
Economic Freedom Report
Sofia, September 12 (BTA) - Bulgaria ranks 37th among 162 countries and territories in terms of economic freedom, shows Fraser Institute's 2019 Economic Freedom of the World Report, while a year earlier Bulgaria was 46th. The report is based on data for 2017, Thursday said the Institute for Market Economics, local partner of the Fraser Institute.
This is Bulgaria's best position in the Fraser Institute's annual ranking since 2009, when the country was once again 37th.
The Fraser Institute's Economic Freedom of the World Report measures economic freedom, ranking countries based on five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business. The countries are rated by a scale of 0 to 10, 10 being the maximum economic freedom.
In the 2019 report, Bulgaria's summary rating is 7.54, compared to 7.43 a year earlier, but varies significantly between and within areas.
In the area of size of government, Bulgaria's rating is 7.13, the same as a year earlier. Within this area, the country has the highest rating for top marginal tax rate (8.50) and the lowest, for government consumption (5.74) and transfers and subsidies (5.85).
In the area of legal structure and security of property rights, Bulgaria's rating is 5.28, compared to 4.83 a year earlier. Within this area, the country receives the highest possible rating for gender legal rights adjustment. The lowest ratings in this area are for impartial courts (3.36) and judicial independence (3.49).
In the area of access to sound money, Bulgaria's rating is 9.43, compared to 9.44 a year earlier. Within this area, the country gets the highest rating (10) for freedom to own a foreign currency bank account and the lowest rating (8.80), for money growth.
In the area of freedom to trade internationally, Bulgaria's rating is 8.11, compared to 8.12 a year earlier. Within this area, the country gets a 10 for black-market exchange rates but a 6.62 for controls of the movement of capital and people mostly due to foreign ownership/investment restrictions.
In the area of regulation of credit, labour and business, Bulgaria's rating is 7.74, compared to 7.61 a year earlier. Within this area, the country is given the maximum rating of 10 for credit market regulations but a rating of 6.16 for business regulations due to administrative requirements and extra payments/bribes/favoritism.
RY/DS/ДЛ/
DS1842NW.116
116 ECONOMY - ECONOMIC FREEDOM - BULGARIA - REPORT
Bulgaria Ranks 37th
in Fraser Institute's Latest
Economic Freedom Report
Sofia, September 12 (BTA) - Bulgaria ranks 37th among 162 countries and territories in terms of economic freedom, shows Fraser Institute's 2019 Economic Freedom of the World Report, while a year earlier Bulgaria was 46th. The report is based on data for 2017, Thursday said the Institute for Market Economics, local partner of the Fraser Institute.
This is Bulgaria's best position in the Fraser Institute's annual ranking since 2009, when the country was once again 37th.
The Fraser Institute's Economic Freedom of the World Report measures economic freedom, ranking countries based on five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business. The countries are rated by a scale of 0 to 10, 10 being the maximum economic freedom.
In the 2019 report, Bulgaria's summary rating is 7.54, compared to 7.43 a year earlier, but varies significantly between and within areas.
In the area of size of government, Bulgaria's rating is 7.13, the same as a year earlier. Within this area, the country has the highest rating for top marginal tax rate (8.50) and the lowest, for government consumption (5.74) and transfers and subsidies (5.85).
In the area of legal structure and security of property rights, Bulgaria's rating is 5.28, compared to 4.83 a year earlier. Within this area, the country receives the highest possible rating for gender legal rights adjustment. The lowest ratings in this area are for impartial courts (3.36) and judicial independence (3.49).
In the area of access to sound money, Bulgaria's rating is 9.43, compared to 9.44 a year earlier. Within this area, the country gets the highest rating (10) for freedom to own a foreign currency bank account and the lowest rating (8.80), for money growth.
In the area of freedom to trade internationally, Bulgaria's rating is 8.11, compared to 8.12 a year earlier. Within this area, the country gets a 10 for black-market exchange rates but a 6.62 for controls of the movement of capital and people mostly due to foreign ownership/investment restrictions.
In the area of regulation of credit, labour and business, Bulgaria's rating is 7.74, compared to 7.61 a year earlier. Within this area, the country is given the maximum rating of 10 for credit market regulations but a rating of 6.16 for business regulations due to administrative requirements and extra payments/bribes/favoritism.
RY/DS/ДЛ/
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