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Bulgaria falls to 50th place in World Bank ease of doing business ranking of 190 economies

Bulgaria falls to 50th place in World Bank ease of doing business ranking of 190 economies

Bulgaria is in 50th place in the World Bank's ranking of ease of doing business in 190 economies, a drop from 38th place in 2016.

Among six cities benchmarked in Bulgaria, Rousse leads in the areas of registering property and enforcing contracts, Burgas in getting electricity; Varna stands out for efficient business registration, and Sofia for its relatively fast construction permitting process, among the six cities benchmarked in Bulgaria, according to the report "World Bank. 2018. Doing Business 2018: Reforming to Create Jobs"

The report reviews changes in business regulations in 190 countries for domestic firms using 11 indicator sets, including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Of the 190 economies, New Zealand ranked top, for the second consecutive year, and Somalia bottom.

Economies in all regions are implementing reforms easing the process of doing business, but Europe and Central Asia continues to be the region with the highest share of economies implementing at least one reform—76 per cent of economies in the region have implemented at least one business regulatory reform, followed by South Asia and Sub-Saharan Africa.../IBNA

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