Greece loses one place in World Competitiveness Yearbook 2019 report

Greece fell by one place in the World Competitiveness Yearbook 2019 Report of the Institute for Management Development (IMD) in Switzerland, despite improvement recorded in the country's performance in three basic index categories: economic, government and business efficiency.

According to an announcement issued by the Federation of Industries of Greece (SBE) on Wednesday, Greece ranks 58th among 63 countries based on 342 sub-indexes, near the bottom of the list along with Ukraine, Peru, South Africa, Jordan, Brazil, Croatia, Argentina, Mongolia and Venezuela. It noted that Greece recorded the second worst performance in the EU after Croatia, while Bulgaria and Romania ranked 48th and 49th.

Greece ranks 60th among 63 countries in the economic efficiency index, rising by one place from 2018, while it recorded small improvement in the government efficiency index (60th in 2019 from 61st in 2018) and the business efficiency index (58th in 2019 from 59th in 2018). The infrastructure category recorded a small deterioration of the country's position, its ranking slipping for the fifth consecutive year and falling to 41st from 40th in 2018.

SBE said that the WCY is the more reliable tool for global investors in the framework of assessing the business environment in countries and regions.