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Hungary climbs to 48th place in WEF global competitiveness ranking

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Hungary has climbed to 48th place from 52nd in this year's World Economic Forum (WEF) global competitiveness ranking, Eva Palocz, CEO of economic researcher Kopint-Tarki, the WEF's Hungarian partner, said on Wednesday.

Hungary's place on the ranking has improved every year since 2008, helped by good infrastructure, a flexible labour market and cooperation between businesses and schools in the area of education, Ms Palocz said. Hungary's weak points remain high taxes, the difficulty of accessing public funds, the big role of the state and the public's lack of trust in politicians, she added.

Hungary ranked ahead of neighbouring Slovakia, in 69th place, but behind the Czech Republic, in 38th, and Poland, in 41st.

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