site.btaBulgaria Moves Up 13 Places in Economic Freedom Index of Heritage Foundation, Wall Street Journal

Sofia, December 28 (BTA) - Bulgaria has climbed 13 notches in a year to 47th place in the Index of Economic Freedom 2017 published by The Heritage Foundation and The Wall Street Journal. However, this country has slid three notches to 48th place in the Economic Freedom of the World index of Canada's Fraser Institute. The latter ranking is based on data for 2015, the Bulgarian Chamber of Commerce and Industry (BCCI) said.

Based on reports by authoritative international institutions, the BCCI has drawn up a review of Bulgaria's place in the world showing a substantial improvement in economic freedom and competitiveness.

The Global Competitiveness Index 2017-2018 ranks Bulgaria 49th, up one notch from the previous edition. This country has consistently received high marks in the macroeconomic environment subindex and ranks 25th. The Swiss-based International Institute for Management Development also ranks Bulgaria 49th in competitiveness in 2017, up from 50th place in 2016.

The Prosperity Index of the London-based Legatum Institute ranks Bulgaria 51st in 2017, up from 57th place in 2016.

However, this country is still lagging behind in innovation: the Global Innovation Index gives it 38th place in 2017, just one notch above its year-earlier position.

The KOF Globalization Index ranks Bulgaria 38th, down from 30th place in 2016.

A negative development is also reflected by the International Property Rights Index, which ranks Bulgaria 85th in the world, down from 66th place in 2016, the BCCI said.