Hungary slips 12 places in WEF competitiveness ranking.

By bne IntelliNews September 6, 2012
Hungary ranked 60th out of 144 countries in the World Economic Forum's Global Competitiveness Report 2012-2013, slipping 12 places from the previous edition of the ranking. Hungary scored 4.30 points on a scale of 1 to 7 as it worsened performance in two of the index three indicators, namely efficiency enhancers and innovation and sophistication factors. Among the efficiency enhancers, Hungary wakened its performance in terms of labour and goods markets efficiency, technological readiness as well as in financial market development. Within the innovation and sophistication factors, the business sophistication deteriorated, while the country has kept relative advantages in terms of innovations. Regarding basic requirements, Hungarys ranking remained unchanged, which however, reflected slight improvement of the macroeconomic environment as well as health and primary education. On the other hand, performance of institution and infrastructure worsened moderately. The report also shows that, the policy instability, the access to financing and tax rates are among the most problematic areas for doing business in the country. In regional comparison, Hungary was outperformed by Czech Republic (39th place), Poland (41st place), while Slovakia legged behind at 71st place.

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