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Bulgaria doubts 64th position in 2006 index of economic freedom

Date: 25.02.2006

Bulgaria's Economy and Energy Ministry voiced doubts over the country's dropping from 52nd to 64th place in the 12th annual Index of Economic Freedom, a survey prepared by the Heritage Foundation and the Wall Street Journal.

Economy and Energy Minister Rumen Ovcharov said that this was due to a technical mistake. The expertise of the Economy and Energy Ministry showed that Bulgaria should have gone up in the ranking reaching at least the 50th place, due to the improvement in the "fiscal burden", "cash flows" and "foreign investments" components.

Bulgaria's Economy and Energy Ministry has already made an official demand for the rectification of the mistake.

The 12th annual Index of Economic Freedom, released in the beginning of January, graded 157 countries. They received a 1-5 rating with one being the best on 10 broad measures of economic freedom: trade policy, fiscal burden of government, government intervention in the economy, monetary policy, capital flows and foreign investment, banking and finance, wages and prices, property rights, regulation and informal (or black) market activity. Those scores are averaged to create an overall score.

Bulgaria's average score was 2.88. The country has slipped down by twelve spots in comparison with last year, when it ranked 52nd.

Sofia News Agency

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