Hungary ranked 63rd in WEF competitive rankings

Competition

Hungary has dropped in the World Economic Forum (WEF) global competitiveness rankingsfor 2013-14, falling three places to no. 63 of 148 nations. The score of 4.25 on a scale of 1-7 obtained by Hungary put the country in a statistical tie with like-scoring Peru, Slovenia, and the Russian Federation. This group trailed no. 60-ranked India (4.28), but bested Sri Lanka (4.22), Rwanda (4.21), Montenegro (4.20) and Jordan (4.20). Hungary’s Visegrad Four partners Poland, Czech Republic and Slovakia placed 42nd, 46th and 78th, respectively. At the top of WEF’s “most problematic factors for doing business” table were for Hungary, in order, access to financing, policy instability, tax rates, tax regulations, inefficient government bureaucracy, and corruption.

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