Bulgaria Named World's 48th Most Prosperous Country

Bulgaria is ranked 48th among 142 countries worldwide in the 2012 Prosperity Index of the Legatum Institute.

Bulgaria is among the "upper middle ranking countries", according to the index. It is placed one spot below Latvia and one ahead of Greece.

Among the eight sub-indices that are equally weighted to produce the overall rankings, Bulgaria's score is lowest in Economy (93rd) and highest in Safety & Security and Entrepreneurship & Opportunity (41st in both sub-indices).

Norway and Denmark have retained the pole positions they held last year in the overall prosperity measure, while Sweden leapfrogged Australia and New Zealand into third. Canada, Finland, the Netherlands, Switzerland and Ireland rounded out the top ten. The Central African Republic ranks bottom.

The US ranks outside of the top ten for the first time (down to 12th), pulled down primarily by a decline in the Entrepreneurship & Opportunity sub-index.

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