Bulgaria climbs one place to place 54 in the 2012 World Competitiveness Ranking of the Lausanne-based Institute for Management Development (IMD).

The IMD World Competitiveness Center released Thursday its 24th annual report assessing the competitiveness of 59 economies on the basis of 329 criteria (two-thirds of which are composed from statistical indicators and one third from the perceptions of opinion leaders).

The ranking measures how well countries manage their economic and human resources to increase their prosperity.