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Romania went up to 51 in the ranking of the most competitive 141 countries of the world,  made by WEF


Romania occupies place 51, up by comparison to 2018, in the top of the most competitive 141 countries in the world, while at the top is Singapore which surpassed the US, according to a report of the World Economic Forum (WEF)published on Wednesday, AFP says.

The general scoring obtained by Romania is 64.4 percentage points out of 100, up by 0.9  percentage points as compared to 2018. Before Romania there countries such as the Czech Republic (32), Slovakia (42), Russia (43), Hungary (47) and Bulgaria (49). Romania surpasses countries  such as Greece (59), Turkey (61), Serbia (72) and the Republic of Moldova (86).

In this year’s edition, the commercial wars started  by president Donald Trump made that the US lose the position of champion of the world as competitiveness. With a score of 83.7 percentage points, the US is second, being surpassed by Singapore, which got a score of 84.8, Hong Kong went up four positions and is third with a score of 83.1 percentage points.WEF says that the data for the report of this year were gathered before the protests which have destabilized the former British colony for several weeks.

Then follow the Netherlands, Switzerland, Japan, Germany, Sweden, the UK and Denmark. At the other end, on the last positions there are the Democratic Republic of Congo, Yemen and Ciad.

‘One of the main worries at present is the reduced capacity of the governments and central Banks to use the monetary policy to stimulate economic growth. This makes the adoption of  the policy destined to competitiveness growth to stimulate productivity, to encourage socialmobility and reduced income inequity’ stated Saadia Zahidi, the author of the report and member in the board of WEF.
The World Economic Forum (WEF) which reunites in the ski resort Davos every year the political and economical elite of the world, has published since 1979 a ranking of the most competitive nations of the world as productivity and long-term growth. The report measures competitiveness on a scale of 0 to 100 on the basis of some indicators such as infrastructure, health, work  market, financial system, quality of public institutions and economic openness.

(Source photo: weforum.org/agenda/2019/10/competitive-economies-world/)