BULGARIA SLIPS DOWN TWO POSITIONS IN DOING BUSINESS 2012 INDEX

Bulgaria slipped two positions in the annual ranking of the World Bank's Doing Business 2012 Index, ranking the countries according to the ease and conditions of doing business, announced the institution. Our country ranked 59th out of a total of 183 countries listed, thus moving back two positions, compared to its ranking in 2011 (57th). 

It turns out that conditions for starting a new business, the issuance of construction permits, registering property, protecting investors and the settlement of bankruptcy decisions have deteriorated. Improvement has been noticed in terms of paying taxes, trading with other countries, the implementation of contracts and access to electricity. Progress has been registered in cross-border business relations thanks to the online customs declarations. Additional guarantees for creditors have been noticed and transparency in some operations has increased.

The ranking is topped by Singapore, followed by Hong Kong and New Zealand. The US, Denmark and Norway follow. The top 10 list also includes the UK, Korea, Iceland and Ireland. An interesting fact is that even some African countries, such as Rwanda and Botswana, for instance, are ahead of Bulgaria in terms of doing business, occupying the 45th and 54th position, respectively. 

Neighbouring Macedonia also ranked way ahead of Bulgaria at 22nd place (12 positions up from 2011). The country is not an EU member-state yet but it has succeeded in changing its business regulations in order to attract investments, develop its economy, open new jobs and register significant economic growth. Slovenia retains its 37th place from last year, while Slovakia has lost five positions and now ranks 48th. Bulgaria's other neighbouring countries are behind us in the index. Turkey is 71st, followed by Romania - 72nd, Serbia is 92nd and Greece is at the end of the top 100 list.