Government of the Republic of Serbia
Serbia is in 65th place according to the global competitiveness index (GCI) for 2018, published by the World Economic Forum (WEF), as announced on 17 October. The most competitive global economy is that of the US, the least competitive that of Chad, while Germany is the best placed European economy. The new report by WEF highlights new challenges for competitiveness in the environment of the fourth global industrial revolution.
There were 140 countries competing, with Serbia receiving a score of 60.9, improving its position by five spots compared to 2017.
Serbia has achieved improvements and progress in nearly all pillars of competitiveness, with the greatest contribution to our position made by: macroeconomic stability, education and skills, product market and the financial system. The only deterioration of competitiveness factors was registered under the segment monitoring the development level and quality of institutions.
Among countries in the region a worse rating is held by Croatia at 68, Montenegro at 71, Albania at 76, Macedonia at 84 and Bosnia and Herzegovina at 91. Better ratings are those of Slovenia at 35, Hungary at 48, Bulgaria at 51 and Romania at 52.
GCI is the best-known and most used competitiveness index showing global country rankings, measuring the status of institutions and the infrastructure, macroeconomic stability, product and labour markets, the financial system, size of the market, business dynamics and innovation capacity, as well as the development of the healthcare and educational system.
WEF used a new methodology for its report to fully review the dynamics of the global economy in the fourth industrial revolution. The forum highlighted that the factors that will have a significant effect on future competitiveness have never before been the focus of key political decisions, including entrepreneurial culture, openness, agility, and idea generation.
Source: Beta, EURACTIV.rs, taken from www.euractiv.rs
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