The decline continues

COMMENT

When it comes to economic competitiveness, Greece’s continuous financial strife has sent it even further down world rankings.

According to this year’s World Competitiveness Yearbook (WCY), which ranks and assesses the competitiveness of 63 countries, Greece only managed to reach 57th place on the chart.

That’s down from 56th position last year, according to the Swiss-based International Institute for Management Development (IMD), which draws up the Yearbook.

Given that Greece was 50th in 2015, 57th in 2014 and 54th in 2013, it goes without saying that it is stuck in a rut.

The four criteria set by the IMD are economic efficiency, government efficiency, infrastructure and business efficiency.

Unsurprisingly, Greece had a dismal showing in all of these categories, as it either remained at the same pathetic level or dropped even further down.

And without any signs that this unenviable performance will end anytime soon, it goes without saying that our decline looks set to continue.

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