05.09.2012

Our country has climbed up 12 places in the Global Competitiveness Report of the World Economic Forum

The Global Competitiveness Report of the World Economic Forum (WEF) shows that Bulgaria has climbed up 15 places and now holds 31^st place in respect of the macroeconomic stability indicator. The WEF analysts have appreciated the good data about the government debt management, the low budget deficit (2.1% of GDP), the level of national savings (25% of GDP), the comparatively low inflation and other macroeconomic criteria.

In respect of the infrastructure indicator our country has moved 11 places forward and now holds 76^th place. WEF considers that the infrastructure is a true government priority and that has positive impact on the results in respect of the economy competitiveness. Bulgaria also marks progress under the labor market efficiency indicator. In this field the country has moved 7 places forward - from 56^th to 49^th place. Positively assessed is the labor market flexibility, the simplified practices of recruitment and laying-off workers, the comparatively high level of women participation in the labor force. Among the weaknesses is low labor productivity, underestimation of professional management, lack of cooperation between employers and employees.

Bulgaria has moved 7 places forward - from 70^th to 63^rd place - under the higher education and training indicator. The country has good indicators about the percentage of people with higher education; comparatively good are the results for the teaching of mathematics, the access to Internet in schools, etc.

Under the summary competitiveness indicator our country has climbed up 12 places and already holds 62^nd place among 144 states in the WEF classification. So far the highest position held by Bulgaria was 71^st in 2010.

You can read the whole report here.