WEF: Czech Republic 36th in the world in global competitiveness

The World Economic Forum’s report on global competitiveness shows the Czech Republic as having dropped five places since last year to 36th place. The rating suggests that the Czech Republic, along with Estonia at 33rd place, remain the most competitive countries of Central and Eastern Europe. The report states that both countries have continued to rely on outstanding school systems, effective and developed markets for goods, labour and financial services, and technological proficiency. According to the forum, the Czech Republic’s rating is hurt by indicators of public trust in politics, the burden of state regulations, clientelism and the transparency of government decisions. Six of the top ten positions on the list of global competitiveness were taken by Western European countries.