Slovakia economy less competitive

Slovakia continues to fall in its competitive economy ranking, moving down four places from last year in the latest World Competitiveness Yearbook (WCY). The country now stands in 57th place out of the 63 countries evaluated, TASR learnt from the F.A. Hayek Foundation on Tuesday. Among European countries, Slovakia was ahead only of Croatia, having been outstripped even by Ukraine this year. The most successful country in the Visegrad 4 group was the Czech Republic, in 33rd place. The top three in the 2020 list, according to the WCY, is Singapore, followed by Denmark and Switzerland. The WCY research monitors the quality of the business environment of 63 countries around the world and compares the competitiveness of their economies. The World Competitiveness Yearbook is published by the Swiss Institute for Management Development every year in co-operation with dozens of NGOs.