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WEF: Greece holds 86th position in Global Competitiveness survey

Political uncertainty, high tax rates, bureaucracy and the difficulty of enterprises to access to financial resources are the main features that push down the Greek economy. Competitiveness? No chance!

The report «Global competitiveness report 2016-2017» published by the World Economic Forum places Greece on 86th position on a list of total 138 countries.

Greece is below Montenegro (82nd place), Cyprus (83rd), Namibia (84th) and Ukraine (85th) and over Algeria(in 87th place) and Honduras (88th).

In 2015, Greece was on the 81st position.

According to the report, Greece seems to have made significant progress in sectors like infrastructure(37th position), technological readiness (42nd), the Higher Education and Training (45th position) as wells as in Health and Primary Education (46th place).

However, the overall picture with regard to the global Competitiveness Index ranks lower than other European countries, including Bulgaria (50th) and Romania (62nd place ).

So in the category “Financial Market Development” Greece holds the 136th position (only two positions from the worst place in the world), while in the “Macroeconomic Environment” that Greece occupies the 131st position. In category “Efficiency of Labor Market” is on 114th place and in “Efficiency of goods market” occupies the 89th position.

PS So it’s not because of high wages and the need of structural reforms in Labor market as Greece’s EU lenders and IMF Lagarde claim…. Oh wait! Economies are flourishing in Namibia, Bulgaria, Ukraine and Romania.

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One comment

  1. The World Economic Forum consists of 600 people, dedicated in it’s mission to improving the world.
    Thank you God, for these 600 dedicated yes men & women who are personally going to improve the state of the world.
    These tambourine rattling hippy’s and their wonky crystal ball will make all the difference to everything that ails planet earth.