The ranking includes 63 countries.
Hungary ranked eighth in terms of economic performance, 37th according to a gauge of government efficiency, and 48th in a comparison of business efficiency. It ranked 36th with a view to infrastructure.
IMD put "high debt and deficit level", "low level of productivity" and "very high energy intensity of the economy" among the challenges Hungary faces in 2022.
Commenting on the results on Monday, Finance Minister Mihály Varga said Hungary's improvement in the ranking was supported by government measures focusing on reducing taxes and red tape, strengthening digitalization and electronic administration, and facilitating the conditions of employment and investments.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
