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Romania ranks 68th out of 137 in Global Competitive Index

WEF, country faces problems on corruption,taxes and institutions

27 September, 13:47
(ANSA) - BUCHAREST - Romania ranks 68th in the 137 top most competitive countries in the world, facing troubles on corruption, taxes, while Switzerland and the US rank first, according to the Global Competitiveness report 2017-2018 by the World Economic Forum, as The Romania Journal reports. Romania has low scores on indicators such as innovation and business sophistication, where it ranks 106th in the world, but also on health and primary education (the 92nd position in the world), on institutions (the 86th position) and infrastructure (the 83rd position).

On the other hand, Romanian ranks better on macroeconomic environment (the 38th position), market size (41st position) and technological readiness (the 51st position).

The most acute problems standing in the businesses' path are taxes, the inefficient government red tape, financing access, improper educated work force, corruption and the improper infrastructure supply, the report reads.

Romania has a competitiveness index of 4.3 on a scale from 1 to 7.

According to the report, Switzerland ranks first for the sixth year in a row, posting a score of 5.86, followed by the United States of America (5.85), Singapore (5.7), The Netherlands (5.66), Germany (5.66), Hong Kong (5.53), Sweden (5.52), UK (5.51), Japan (5.50) and Finland (5.49). (ANSA).

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