Romania considered world’s 52nd most competitive economy below Bulgaria

Romania is considered the 52^nd most competitive economy in the world this year, just below Bulgaria, according to “The Global Competitiveness Report 2018” released by the World Economic Forum.

Romania maintains its position registered last year in the global ranking. In the EU, Romania is the third least competitive economy, after Croatia (68th) and Greece (57th).

The Global Competitiveness index is based on several criteria regarding enabling environment, human capital, markets and innovation.

Romania ranks better in terms of ICT adoption (36^th in the world), market size (41st) and institutions (46th), and worse in financial system (101st), health (72nd) and skills (69th).

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The United States, Singapore and Germany are considered the most competitive economies in the world this year, while Chad, Yemen and Haiti are the least competitive nations in terms of economy.

Germany (3^rd in the world), the Netherlands (6th) and the UK (8th) are EU’s most competitive economies, according to the report.

The Global Competitiveness index captures the determinants of long-term growth. Recent developments are reflected only insofar as they have an impact on data measuring these determinants, according to World Economic Forum.