Poor innovation and business environment problems hinder Slovakia’s growth

Slovakia worsened its position in the recent global competitiveness ranking.

The level of labour skills and efficiency of the labour market have gone up in the 2019 WEF Global Competitiveness Index   The level of labour skills and efficiency of the labour market have gone up in the 2019 WEF Global Competitiveness Index (Source: Sme - Peter Žákovič)

Slovakia continues falling when it comes to global competitiveness. It ranked 42nd of 141 countries monitored in the 2019 Global Competitiveness Report, published by the World Economic Forum (WEF).

With the score of 66.8 points out of 100, it worsened its position by one spot compared to last year.

“Slovakia recorded only minor changes in the evaluated parameters,” the Business Alliance of Slovakia (PAS), a Slovak partner of WEF, wrote in the press release.

Slovakia lost only 0.1 point off its overall score this year compared to 2018.

With the exception of Hungary, Slovakia lags behind its neighbours: the Czech Republic came 32nd, Poland 37th, and Austria 21st.

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