Macedonia ranks 73rd in the global competitiveness index compiled by the World Economic Forum (WEF) Global Competitiveness Report 2013-14, climbing seven places compared to last year when it ranked 80th.
Compared to the countries in the region, Bulgaria is 57th, Slovenia is 62nd, Montenegro-67th, Croatia-75th, BiH-87th, Greece-91st, Albania-95th and Serbia is 101st.
According to the WEF report, out of 148 countries worldwide, Switzerland is the most competitive country, followed by Singapore, Finland and Germany. Sweden, Hong Kong, the Netherlands, Japan and Great Britain round up the top ten.
WEF defines competitiveness as a summary of institutions, policies and factors determining the level of productivity of a country and its report also includes results of a survey within the business community on the government's efficiency and transparency.
