site.btaBulgaria Drops One Rung in Ease of Doing Business of 2017 World Bank Report

Bulgaria Drops One Rung in Ease of Doing Business of 2017 World Bank Report

Washington, D.C., October 25 (BTA) - Bulgaria dropped from 38th to 39th in the ease of doing business ranking of the World Bank's Doing Business 2017 report that was released on Tuesday. The report reviews changes in business regulations in 190 countries for domestic firms using 11 indicator sets: starting a business,
dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.

Under the strength of insolvency framework index, the report notes that in Bulgaria, debtors can initiate both liquidation and reorganization proceedings, but creditors can initiate only liquidation proceedings. Either the liquidity test or the balance sheet test can be used to commence insolvency proceedings. Adding these numbers gives Bulgaria a score of 2.5 on the commencement of proceedings index.

In its summaries of doing business reforms in 2015/16, the World Bank points out that Bulgaria increased the reliability of power supply by implementing an automatic energy management system, the Supervisory Control and Data Acquisition (SCADA), to monitor outages and service restoration.