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Competitiveness getting worse in Hungary, IMD says

Hungary’s competitiveness is deteriorating due its unsuccessful economic policy, Swiss IMD’s World Competitiveness Yearbook 2008 wrote.

The almanac presents the competitiveness of 55 countries of the world based on statistics figures and the opinion of company managers. Hungary is 38th on the list, down from position 35, because the economic performance and the efficiency of the government have become seriously weaker. Hungary’s business life efficiency and the state of infrastructure have also moderately declined in comparison with other countries, IMD found.

Among the 55 countries surveyed Hungary’s budget deficit was the largest and economic growth was the slowest here. Hungary’s inflation rate last year was the seventh highest, the employment rate was the 47th among these countries. While Hungary is lagging behind, the Czech Republic is 28th, Slovakia is 30th and Poland is 44th, but all these rivals came a few steps forward on the list. (Napi Gazdaság)