Bulgaria Nears Cameroon, Zimbabwe in Institutions Efficiency

The Global Competitiveness Report 2009-2010 was released on Tuesday by the World Economic Forum ahead of its Annual Meeting of the New Champions 2009 in Dalian. Photo by www.weforum.org

Bulgaria ranks 11th in the number of mobile telephone users, but does not make it higher than 116th in the efficiency of legal framework in settling disputes.

Bulgaria nears Cameroon and Zimbabwe in legal framework effciency, a worldwide ranking, encompassing 133 countries, shows.

Switzerland tops the overall ranking in The Global Competitiveness Report 2009-2010, released on Tuesday by the World Economic Forum ahead of its Annual Meeting of the New Champions 2009 in Dalian.

In the overall ranking Bulgaria stays put at 76, unchanged over last year, making it the least competitive country in the European Union.

Romania, which joined the European Union together with Bulgaria on January 1, 2007, has moved ahead in comparison with last year and now stands at spot 64.

Bulgaria performs best in terms of macroeconomic stability, which takes into account the pace of GDP growth, foreign debt management, state deficit and surplus. Here the country ranks at spot 45.

According to the survey the problematic areas for Bulgaria remain institutions efficiency, infrastructure and innovations.

The US was knocked off the top spot due to its weakening financial markets, the report says.

European economies dominate the top spots, with Sweden, Denmark, Finland, Germany and the Netherlands also appearing in the top 10.

The United Kingdom, while remaining very competitive, has continued its fall from last year, moving down one more place this year to 13th, mainly attributable to continuing weakening of its financial markets.

France was ranked 16th, Spain 33rd and Italy 48th.

The report also showed that China is leading the way among the large developing countries, appearing at 29 on the list of the world's most competitive economies.

India came in at 49, Brazil at 56 and Russia at 63.

The report calculates the rankings using publicly available data and a survey of 13,000 business leaders across 133 economies.

 

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