Bulgaria increased it's global competitiveness
Bulgaria is the 50th most competitive economy in the world, according to the Global Competitiveness Index 2016-2017
The Global Competitiveness Report 2016-2017 assesses the
competitiveness landscape of 138 economies, providing insight into the drivers
of their productivity and prosperity. This year’s edition highlights that updated business practices
and investment in innovation are now as important as infrastructure, skills and
efficient markets.
Bulgaria 50th /138
Bulgaria’s
business environment is ranked within the first 50 countries in the world. It
has a step-up with 4 positions since the last edition of the report and rank 12 positions
up since 2012.
According
to the report, Bulgaria is the 5th
world economy in attractiveness of trade tariffs with 1% duty and the 14th in the world in strength of
investor’s protection. A key finding
points out, that the country is highly technology
prepared to respond to the business requirements (38th in the
world). Local business environment is ready to propose latest technologies,
good regulations for FDI and technology transfers, and high speed internet
connection. In reference to the macroeconomic pillar, Bulgaria is ranked 42nd
in the world with 23.5% of GDP Gross National Savings;-1.1% inflation; stable currency,
pledged to the euro.
The
most problematic factors for doing business in Bulgaria are corruption and inadequately
educated work force.
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