CSD Policy Brief No. 39: The Bulgarian Economy: Competitiveness 2013
CSD Policy Brief No. 39: The Bulgarian Economy: Competitiveness 2013
Author(s): Author Not Specified
Subject(s): National Economy
Published by: Център за изследване на демокрацията
Summary/Abstract: MAIN POINTS
››› Bulgaria is ranked at 57th position, 3 places below the position achieved in 2012 and the lowest since its inclusion in the yearbook in 2006. This almost 20 places lower than ist highest achievement in 2009 – 38th place.
››› The country continues to have a fiscally stable, open and export-oriented economy with one of the lowest living and business costs in Europe.
››› Bulgaria continues to suffer from the lack of adequate business culture and institutional framework, while also being plagued by a labor market crisis leading to one of the lowest employment levels Bulgaria has reached in its post-communist history in 2013.
››› The most pressing problem of the Bulgarian economy is surging unemployment, with youth and long-term unemployment being persistently high.
››› The 5 main challenges which Bulgaria faces in improving its competitiveness are:
o Modernise public administration to increase evidence-based efficiency and regulatory quality;
o Reduce administrative costs and provide EU funded incentives for innovation and entrepreneurship;
o Strengthen the judiciary to tackle corruption and reduce business uncertainty;
o Reform the governance of the energy sector to preserve cost competitiveness, diversify gas supply, and improve energy efficiency;
o Tackle hidden economy and related labour market inefficiencies.
Series: Center for the Study of Democracy - CSD Policy Briefs
- Page Count: 10
- Publication Year: 2013
- Language: English
- Content File-PDF