Bulgaria registered worst scores among all members of the European Union
Bulgaria fell behind from 50th to 64th place in the 2006 Index of Economic Freedom published by Heritage Foundation and the Wall Street Journal, announced the Foundationa and its Bulgarian partner
– the Institute for Market Economy. According to analyses, low scores stem from country’s unsound trade policy and sizeable inflation. Figures provided by the National Statistical Institute show
that trade deficit totals BGN 7 billion, Darik Radio reported. Inflation score is 2 points worse than in 2004 when its rates were 4%. Bulgaria ranks 30th at personal taxes rates and is amongst the
ten countries having lowest corporate taxes in the world. Rates of foreign investments have also reached record high, Heritage reported but juridical and administrative systems remain legally
ineffective.
The 2006 Index of Economic Freedom measures annually 61 countries against a list of 50 independent variables divided into 10 broad factors of economic freedom, amongst which are trade policy,
fiscal burden, gray sector, banking and finance, government intervention and regulations.
