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Long-term Stability and Economic Growth Achieved in Bulgaria - World Bank

Date: 17.12.2006

Shortly before its EU entry Bulgaria managed to achieve success in its economic policies aimed at long-term stability and growth, a World Bank report on Bulgarian market development said.

For the first time, the national economy is compared to those of countries part of the Organisation for Economic Development and Co-operation (OECD), rather than to those of countries in the Balkan region.

Over the past years Bulgaria improved business-related regulations, the report said as quoted by Bulgarian National Radio.

In some areas, Bulgaria achieved above average levels. Other economic factors approach the OECD averages.

Bulgaria's investment hindrances coefficient is similar to the one in Switzerland and the Czech Republic, the report said.

Licenses and permit issuing in the country is almost the same as in 12 OECD countries among which France, Finland, Norway, UK and the US.

Companies in the country were also aware of the progress as getting a license in 2005 became much easier than it used to be in 2002, the report said. 

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