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May 22, 2022
BUSINESS

Romania improves its economic competitiveness performance

Romania jumped four positions this year, from 54 to 50, in a top of economic competitiveness across 59 states, made by the International Institute for Management Development (IMD) of Switzerland, Mediafax reports. The Romanian economy achieved 57.497 points out of 100 possible on a scale of competitiveness, compared to 47.481 points last year. The competitiveness score depends on four criteria: economic performance, government efficiency, the efficiency of the business environment, and infrastructure.

The first positions of the top are held by Hong Kong and the USA, with the maximum score, followed by Singapore and Sweden. Last year, the first place was held by Singapore, with Hong Kong coming second and the USA in third place. According to the IMD report, Romania has a less competitive economy than Hungary (47th place), Slovakia (48) and Russia (49), but outscores Slovenia (51), South Africa (52) and Jordan (53).

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