Bulgaria's Innovation Ranking Drops, Falling Behind Countries Like Ghana and Tanzania

According to an analysis by the Bulgarian Industrial Chamber (BIC), Bulgaria’s position in the Global Innovation Index has significantly declined, reflecting the country’s challenges in institutional efficiency and economic development. The lack of a stable government and a clear, long-term economic strategy have been identified as major obstacles to business operations in Bulgaria.

In the "Institutions" pillar of the innovation index, Bulgaria dropped 27 places, moving from 66th last year to 83rd this year. The country's institutional efficiency now ranks lower than nations like Ghana, Tanzania, Kazakhstan, Serbia, and North Macedonia. This decline is largely attributed to the growing uncertainty in the business environment, which has been detrimental to innovation and economic progress.

Bulgaria has also seen a weakening connection between science and business, which has negatively impacted its innovation performance. The country dropped from 38th to 55th in the innovation connectivity rankings, highlighting the deepening gap. Furthermore, the increasing financial investment in education has not resulted in improved student performance, indicating that a comprehensive reform is needed to align the quality of educational outcomes with the resources allocated to the sector.