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Since 1997, Bulgaria aims at liberalizing its economy and at adding
transparency in its political institutions. Significant measures
were taken in the fields of privatization, banking reform and agricultural
liberalization. Good results were achieved, in particular regarding
foreign direct investment and the corporate tax rate (15 %), which
is lowest in the region.
Howeber, the Bulgarian administration remains bureaucratic and
its decisions are slow and incoherent, because of the lack of co-operation
between local and central admistrations, and the government and
the Parliament. It is difficult to know who does what and who decides
what in the Bulgarian Administration.
2004 Index of Economic Freedom
| Rank |
Score |
Trade Policy |
Fiscal Burden |
Government Intervention |
Monetary Policy |
| 78 |
3.08 |
4 |
1.8 |
2.5 |
4 |
| Foreign Investment |
Banking and Finance |
Wages and Prices |
Property Rights |
Regulation |
Informal Market |
| 3 |
2 |
2 |
4 |
4 |
3.5 |
Source: Heritage Foundation, 2004
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