Greek Economy Among World’s Least Competitive



The Greek economy remains among the world’s least competitive, despite reforms and fiscal policy changes, according to the 2018 International Institute for Management Development (IMD) World Competitiveness Ranking published on Thursday.

Greece ranked 57th among 63 countries monitored by the Switzerland-based IMD, taking the same position as last year.

Since the outbreak of the economic crisis, Greece has remained in the same low position in competitiveness, with the exception of 2014, as the 2015 IMD chart put it in 50th place.

Specifically, in the economic performance index Greece ranked 61st; in government efficiency Greece also ranked 61st; in the corporate efficiency index Greece climbed two places, from 59th to 57th; in the infrastructure index Greece fell from 39th to 40th position, dropping for a fourth year in succession.

The U.S. tops the chart, followed by Hong Kong, Singapore, the Netherlands and Switzerland.

Southern European countries Portugal and Italy saw an improvement in the overall rankings by six (33rd) and two positions (42nd) respectively.