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Romania 74/131 In ‘07-‘08 World Economic Competitiveness Top

Romania ranks 74th out of 131 countries in a global top of economic competitiveness for 2007-2008, but its score remains unchanged from 2006, with competitive drawbacks such as lack of transparency in government decisions and poor road infrastructure.
Romania 74/131 In ‘07-‘08 World Economic Competitiveness Top
31 oct. 2007, 15:14, English

Romania scored four points, on a scale of one to seven, according to the Global Competitiveness Report 2007-2008 released Wednesday by the World Economic Forum, partner of Romania’s Group for Applied Economics, or GEA.

Last year the report included only 122 countries, and Romania ranks 70th among the countries included in the 2006 report, up three positions.

The criteria analyzed by the World Economic Forum are grouped in three large categories that regard general economic aspects (public institutions, infrastructure, macroeconomic stability), the degree of innovation and the complexity of the business environment and factors stimulating economic efficiency (education, new technology).

Romania’s competitive advantages are its public debt (ranking 12th out of 131), high quality vocational training (12th) and time needed for procedures in launching a business (13th).

On the other hand, drawbacks include the protection of rights of minority shareholders (107th), wasted public spending (116th), the rate of savings (101th) and the intensity of local competition (82th).

Among European Union Countries, Romania ranks 26 out of 27, followed only by neighbor Bulgaria.

The world’s most competitive country this year is last year’s winner United States of America, followed by Switzerland, up four positions, and Denmark.