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.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335