Hungary’s competitiveness worsened significantly from 2002, ministry assessment shows

Budapest, February 17 (MTI) – Hungary’s competiveness “deteriorated significantly” from 2002, according to an assessment by the National Economy Ministry published on Wednesday.

Hungary’s convergence with the European average first slowed then stopped entirely as the country’s ability to draw capital deteriorated and its export performance fell behind those of other countries in the region, the ministry said. At present, Hungary is in 42nd place in the IMD World Competitiveness Yearbook ranking, 52nd place in the World Economic Forum’s ranking and 46th in the World Bank’s Doing Business ranking, it added.

    The ministry’s assessment, published in full on the kormany.hu website, was based on almost 500 indicators.








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