Slovakia’s competitiveness ranking falls

For the seventh year in a row Slovakia has dropped on the list of competitiveness compiled by the World Economic Forum (WEF). Compared to previous year the country fell by seven positions to 78th place, its historically worst placement, according to the Global Competitiveness Report 2013-2014 published on September 4.

For the seventh year in a row Slovakia has dropped on the list of competitiveness compiled by the World Economic Forum (WEF). Compared to previous year the country fell by seven positions to 78th place, its historically worst placement, according to the Global Competitiveness Report 2013-2014 published on September 4.

Slovakia is the second least competitive country of the European Union, according to the rankings, trailing only Greece which placed 91st. The country was preceded by Croatia at 75th and Romania at 76th, reads the press release of the Business Alliance of Slovakia (PAS), a partner institution of WEF.

“The fall of Slovakia in the evaluation of competitiveness is a result of pessimism of businesspeople which results from unsolved barriers to business-making and from changes to the tax-payroll tax system and labour legislation which became effective in the beginning of this year,” said Róbert Kičina, executive director of PAS, as quoted in the press release.

Kičina added that Slovakia’s competitiveness is negatively affected mostly by ineffective public institutions, weak law enforcement, red tape, clientelism, an unattractive tax system, low transparency and effectiveness of public expenses, increasing indebtedness of state, a rigid labour code and a low-quality education system.

The most competitive country was Switzerland, followed by Singapore, Finland, Germany and the United States, the press release states.

The WEF survey covered 148 countries between January and April 2013. More than 13,000 managers took part. In Slovakia 250 big companies and 250 small and medium-sized enterprises took part in the survey, according to the press release.

Source: PAS press release

Compiled by Radka Minarechová from press reports

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