Bulgaria fell by three places in the 2006-2007 global competitiveness report by the World Economic Forum (WEF). The country is in the 79th place among 131 countries on the prestigious list, compared to 74th in 2005-2006.
The lagging behind is mostly attributed to the institutions' poor efficiency. As for that index, Bulgaria is in the 109th place which is attributed chiefly to the problems in the legal system, corruption, organized crime, insufficient security of the intellectual ownership, the clumsy regulation environment, etc. Bulgaria is at the rear also in terms of market efficiency (90th place); innovations (88th place); infrastructure quality (84th place); workforce and labour market (73rd place). The global competitiveness report presents the economic growth potential of the countries surveyed. The survey is based on both quantity indices and on the results of the inquiry to the business. In Bulgaria, more than 100 companies have been surveyed for the report's purposes.
For this reason, the ranking is rather subjective but it is valuable because it provides Information on the business attitudes towards the economic development. This year the list is topped by the United States which has displaced Finland. The top five also include Switzerland, Denmark, Sweden and Germany. Bulgaria is the last EU country on the list and it surpasses only Albania, Bosnia and Herzegovina, Montenegro, Serbia and Macedonia among the European countries.
03-09/11/07, P4
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