Business News

Slovenia Slides Eight Spots on WEF Global Competitiveness List

Beijing, 09 September (STA) - Slovenia has slid eight spots to place 45th on the rankings of the Global Competitiveness Report 2010-2011, released on Thursday by the World Economic Forum (WEF). Meanwhile, Switzerland has remained the world's most competitive economy.

The Davos-based WEF presented the rankings, compiled on the basis of analyses of 140 national economies, ahead of today's meeting of highest political and economic representatives in China.

Slovenia ranked 17th among the EU member states, but is only ahead of Portugal, Italy, Malta, Slovakia and Greece among the eurozone members.

According to the forum, business in Slovenia is hampered the most by credit freeze, red tape, strict regulations on the labour market, tax rates and legislation.

The most competitive economy in the eurozone is Germany, which improved on its last year's overall ranking by two spots to rank 5th.

Switzerland has remained the most competitive economy, ahead of Sweden and Singapore. The US fell from last year's second to 4th place, after being the most competitive economy two years ago.

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