Romania less competitive due to Govt inefficiency and lack of economic performance, report finds

Romania ranks towards the bottom of a top of countries in terms of economic competitiveness according to a recent World Competitiveness Report. The country ranks 54th out of 58 countries analyzed in the report, similarly to its ranking last year. Romania is ahead was Argentina, Croatia, Ukraine and Venezuela, but was outrun by neighbor country Bulgaria, which got a better competitiveness score. Hungary took the 42nd place in the top and Poland, the 32nd. Romania scored low in the economic performance area, from the 32nd place on this segment last year, to 47th this year. Government efficiency was also a sore point for the country, down one position to the 50th place. Romania managed to go up 10 places on the infrastructure criterion, reaching the 43rd position. The infrastructure criterion included the internet infrastructure, telecom investments and the country's high productivity in the inventions segment. The business efficiency balanced the other sore segments, as Romania went up seven places to the 49th position this year. The lack of direct investments, of foreign investments in the capital market, the low revenues from the tourism segment and the weak real increase of the GDP were some of the negative issues mentioned in the report about Romania. Singapore has the most competitive economy, followed by Hong Kong and the US. The same three shared the podium last year, but US was first, followed by Hong Kong and Singapore.