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Bulgaria Nine Positions Up in Economic Freedom of the World 2007 |
Bulgaria went nine positions up in the economic freedom of the world 2007 list according to a report published by the Canadian Fraser Institute.
Bulgaria ranked 56th in 2007, while in 2006 it was 65th.
Poland, Greece and Uruguay also improved their ranking by as much. The 2007 list is led by Hong Kong, followed by Singapore, New Zealandand and Switzerland.
The Economic freedom of the world 2007 report measures the degree to which the policies and institutions of countries support economic freedom. Ahead of Bulgaria were placed Chili, Salvador, Costa Rica, Botswana and Mongolia.
Prerequisites for high economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property.
Indicators for Bulgaria's listing that have improved most compared to 2004 include its legal structure and security of property rights, its size of government, and its regulation of credit, labor and business.
The area in which Bulgaria performs worse than 2004 is the freedom to trade internationally.
Research showed that countries with high economic freedom have high GDP per capita, higher economic growth, more foreign investments, low corruption level, higher life expectancy and lower child death rate, according to The Fraser Institute.
