Bulgaria climbs in World Economic Forum’s 2012 global competitiveness report

The Sofia Globe announced the results of the latest report on the competitiveness of the economies of 144 countries:

Bulgaria has climbed to 62nd place in the World Economic Forum’s annual Global Competiveness Report, up from 74th place, beating Slovakia, Romania and Greece – and is no longer in last place in the European Union.

The World Economic Forum released on September 5 2012 its latest report on the competitiveness of the economies of 144 countries.

Of the 12 indicators by which the report defines competitiveness, Bulgaria performs best under macro-economic stability, jumping five places from last year to 31st place this year.

Labour efficiency, health and compulsory education scores are good. But lesser scores were turned in for innovation and business development, market efficiency and the financial sector.
“Persisting divides in competitiveness across regions and within regions, particularly in Europe, are at the origin of the turbulence we are experiencing today, and this is jeopardising our future prosperity.” said Klaus Schwab, founder and executive chairman of the World Economic Forum. “We urge governments to act decisively by adopting long-term measures to enhance competitiveness and return the world to a sustainable growth path.”

Xavier Sala-i-Martin, Professor of Economics at Columbia University in  the US, said: “The Global Competitiveness Index provides a window on the long-term trends that are shaping the competitiveness of the world’s economies. In this light, we believe it offers useful insight into the key areas where countries must act if they are to optimise the productivity that will determine their economic future.”


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