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Hungary rises to 52nd place on WEF's Global Competitiveness Index

Hungary rose to 52nd place on the World Economic Forum's 2010-2011 Global Competitiveness Index from 58th place in 2009-2010, the Geneva-based non-profit foundation announced in its newly published 2010-2010 Global Competitiveness Report.

 The Czech Republic rose to 31st place on the WEF's 2010-2011 index from 36th place in 2009-2010 and Poland rose to 39th place from 46th place, while Slovakia dropped to 60th place from 47th place.

Switzerland retained its top spot on WEF's 2010-2011 Global Competitiveness Index, while Sweden surpassed the Singapore and the United States to gain second place on the current index.

The World Economic Forum's 2010-2011 Global Competitiveness Report classified Hungary, Slovakia and Poland among the 15 countries currently in transition from the middle stage of economic development to the highest stage of development, while ranking the Czech Republic among the 32 countries in the highest stage of economic development. (MTI)