ECONOMY

Greece a nonmover in competitiveness chart

greece-a-nonmover-in-competitiveness-chart

Greece ranks 81st among 140 states in the global competitiveness chart drafted annually by the World Economic Forum, remaining in the same spot as last year – although in 2014 it was 81st out of 144 states.

The structural problems of the Greek economy combined with the prolonged recession do not allow for the utilization of its assets, such as its highly skilled human resources.

Problems such as the chronic obstacles of the Greek public administration, from bureaucracy to delays in justice, and the adverse international climate have kept Greece at the bottom of the list of European Union countries, trailing even the newest EU member-states.

Greece’s negative fiscal state has predictably led to a loss of competitiveness, as the country ranks 139th – i.e. second to last – according to the criterion of “general government debt,” and 134th according to “access to funding.”

It also ranks 128th in good use of public expenditure and 132nd in the efficiency of justice in resolving differences.

Taxation is another counterincentive for investment in Greece, taking the country to fifth from bottom (136th).