Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS


WEF Report: Romania, the 53rd among the world's most competitive 140 countries

Romania ranks 53rd among the world's most competitive 140 countries, up six places from last year, according to a press release from the World Economic Forum (WEF). 

The overall score recorded by Romania is 4.32 points (4.30 points last year) on a scale from one to seven. Ahead of Romania there are countries such as the Czech Republic (31st), Poland (41st), Russia (45th) and Turkey (51st). Romania outpaces countries such as Bulgaria (54th), Slovenia (59th), Hungary (63rd) and Slovakia (67th). 

According to the authors of the report, Romania has low scores for indicators regarding business sophistication (where it ranks 88th in the world) but also in terms of institutions and infrastructure (86th). Instead, Romania has the highest ranking as far as macroeconomic environment goes, where it is at no. 34 in the world, and market size, at no. 43. 

Switzerland continues to be the most competitive country in the world, for the sixth consecutive year (with a score of 5.8 points), followed by Singapore, the U.S., Germany, the Netherlands, Japan, Hong Kong, Finland, Sweden and the UK. Lagging behind are Mauritania (138th, with 3 points), Chad (139th) and Guinea (140th, with 2.8 points). 

Overall, the annual report released by the WEF says that countries worldwide are suffering from the slowdown in productivity growth which is affecting economic expansion. The WEF underscores that the advance of the global economy does not seem to return to levels before the global financial crisis of 2007/2008. Moreover, uncertainties related to the slowdown in emerging economies, especially China, could alter the growth trajectory of global economic. 

The WEF unveiled on Wednesday the 2015-2016 Global Competitiveness Report, which ranks 140 countries around the world on the basis of some criteria such as institutions and government policies but also effectiveness of workforce market and financial markets.