IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Bulgaria Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Sofia

111 2022

48

48

1,860 2022

Exchange rate (per $)

53

53

6,88 2022 44 88,9 2022 52 28.842 2022 49 3,4 2022 36 13,02 2022 51 4,30 2022 24 3,29 2022 44 -2,23 2022 40 57,7 2021 50 2,65 2021 35

57

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Protracted political instability, weak rule of law, and strategic ambiguity regarding Ukraine. • Delayed Eurozone and Schengen entry, risk of loss of EU funds. • Fiscal uncertainty, shrinking workforce, and substantial informal economy. • Deepening socio-economic inequalities and high risk of poverty. • Slow green transition and unclear timeline of coal exit.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Center for the Study of Democracy, Sofia

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

11

21

22

43

47

56 61 60 52 55 55 52 52

55

55 60 55 60

61

64

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

31

32

36

37

39

28

28

32

33

35

63