Albania drops six places in WEF competitiveness ranking.

By bne IntelliNews September 5, 2013

Albania ranked 95th out of the 148 countries in the World Economic Forum's (WEF) 2013-2014 Global Competitiveness Report. The country was at 89th place out of 144 countries in the previous edition of the report. Albania scored 3.85 points on a 1-7 scale as its performance worsened in all three set of indicators, comprising the overall index - basic requirements, efficiency enhancers and innovation and sophistication factors.

Deterioration in the basic requirements was due to a wakened performance in terms of macroeconomic environment, institution and infrastructure. Among the efficiency enhancers, the evaluation for labour, goods market efficiency, the financial market development and technological readiness deteriorated the most. Regarding the innovation and sophistication factors, deterioration was observed in the two segments.

The report also showed that, corruption, access to financing and inefficient government bureaucracy continue to be the most problematic areas for doing business in the country.

In regional comparison, Albania was outperformed by Montenegro (67th place), Macedonia (73rd place), Croatia (75th place) and Bosnia and Herzegovina (87th place).

Global Competitiveness Index 2013-2014    
  2013 Rank 2013 Score 2012 Rank Change (rank)
Bulgaria    57 4.31 62 5
Montenegro  67 4.20 72 5
Macedonia  73 4.14 80 7
Croatia  75 4.13 81 6
Romania  76 4.13 78 2
Bosnia and Herzegovina  87 4.02 88 1
Albania 95 3.85 89 -6
Serbia  101 3.77 95 -6
Source: World Economic Forum       

Related Articles

Albanian opposition Democrats re-elect party leader despite disastrous election defeat

Albania’s opposition Democratic Party (DP) re-elected Lulzim Basha as party leader for another four-year mandate on July 22, despite the catastrophic general election defeat in June. Basha, 43, ... more

Albanian PM says new government to get rid of “parasites” in administration

Dismissing "parasites" in the public administration will be the priority of the Socialist-led government during its second mandate, Albanian Prime Minister Edi Rama has said, ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more