site.btaBulgaria Ranks 32nd in Fraser Institute's Latest Economic Freedom Report
NW 16:38:31 10-09-2020
LN1649NW.118
118 ECONOMY - ECONOMIC FREEDOM INDEX - BULGARIA -REPORT
Bulgaria Ranks 32nd
in Fraser Institute's Latest
Economic Freedom Report
Sofia, September 10 (BTA) - Bulgaria ranks 32nd among 162 countries and territories in terms of economic freedom, shows Fraser Institute's 2020 Economic Freedom of the World Report, while a year earlier Bulgaria was 26th. The report is based on data for 2018, but shows clearly the stagnation in reforms and the loss of the big opportunities in the last decade, the Institute for Market Economics (IME), which is the local partner of the Fraser Institute, said Thursday .
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 2020 report, Bulgaria's summary rating is 7.74 (compared to 7.76 in the 2019 report), placing the country right after Luxembourg (7.75 summary rating) and Peru (7.76), and right ahead of Spain (7.73) and Iceland (7.71).
Hong Kong tops the ranking with a summary rating of 8.94, and Venezuela is the lowest-rated country with 3.34.
According to the IME, despite the stagnation in its result and the lack of significant changes in the judicial system and the Executive's work, Bulgaria is climbing up the ranking due to the change in the number of countries participating in each edition of the annual report, the change in the report's methodology over the years, and the worsening of other countries' results.
According to the IME, the two problematic areas for Bulgaria (legal structure and size of government) are not only with the lowest ratings over the years, but are also the areas without a significant improvement registered. That somewhat negates the other changes observed in the areas of trade and regulation, the Institute for Market Economics argues. RY/DS
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LN1649NW.118
118 ECONOMY - ECONOMIC FREEDOM INDEX - BULGARIA -REPORT
Bulgaria Ranks 32nd
in Fraser Institute's Latest
Economic Freedom Report
Sofia, September 10 (BTA) - Bulgaria ranks 32nd among 162 countries and territories in terms of economic freedom, shows Fraser Institute's 2020 Economic Freedom of the World Report, while a year earlier Bulgaria was 26th. The report is based on data for 2018, but shows clearly the stagnation in reforms and the loss of the big opportunities in the last decade, the Institute for Market Economics (IME), which is the local partner of the Fraser Institute, said Thursday .
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 2020 report, Bulgaria's summary rating is 7.74 (compared to 7.76 in the 2019 report), placing the country right after Luxembourg (7.75 summary rating) and Peru (7.76), and right ahead of Spain (7.73) and Iceland (7.71).
Hong Kong tops the ranking with a summary rating of 8.94, and Venezuela is the lowest-rated country with 3.34.
According to the IME, despite the stagnation in its result and the lack of significant changes in the judicial system and the Executive's work, Bulgaria is climbing up the ranking due to the change in the number of countries participating in each edition of the annual report, the change in the report's methodology over the years, and the worsening of other countries' results.
According to the IME, the two problematic areas for Bulgaria (legal structure and size of government) are not only with the lowest ratings over the years, but are also the areas without a significant improvement registered. That somewhat negates the other changes observed in the areas of trade and regulation, the Institute for Market Economics argues. RY/DS
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