In the report for economic freedom prepared by the Canadian institute Fraser for the year 2011, participated 141 countries and Bulgaria impressively ranked among the first 30 countries in the world. Not only it ranks among the top places, but the country also demonstrates a steady climbing the last three years.
The good standing of Bulgaria in the general ranking can be explained with several factors.
The first of them is “the easy access to secure and stable money” which is very much related to the inflation rates in the country which continue to be lower than those in most of the countries participating. Despite the recession and its deep impact over the world economy and international markets, the Bulgarian markets and fiscal discipline remained relatively stable.
Another important factor contributing to the good standing of Bulgaria in this ranking is the “government size”. This indicator shows that there are considerably less state expenses, state-owned companies, as well as lower tax rates and more stable money.
There is also a considerable improvement in the “regulation of credit, labour and business” category as well as the “freedom of international business” index.
It is important to be pointed out that many of the EU states are losing their economic freedom during the last year. Bulgaria ranks 13th among the EU members with countries like Portugal, Italy, Greece, Spain, Romania and Latvia behind it.