Slovakia up one slot in economic competitiveness ranking

SLOVAKIA placed 39th in a ranking of countries according to the competitiveness of their economies prepared annually by the Swiss Institute for Management Development. A total of 61 countries and regions were evaluated.

The result was an improvement by one position for Slovakia compared to last year. In comparison with its neighbors, Slovakia remains behind the Czech Republic, which ranked 31st, but overtook Hungary, which ranked 41st this year. Poland was 57th.

The greatest challenge facing Slovakia in increasing its competitiveness in the coming years is continuing economic reforms and simplifying and unifying the tax system and social and health insurance fees, the SITA news wire wrote.

The competitiveness ranking confirmed the leading position of the US. Estonia, in 20th place, ranked highest among the new EU members.

Compiled by Martina Jurinová from press reports
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