Lithuania ranks higher than Estonia, Poland in terms of competitiveness

May 20, 2009 at 11:15 am 1 comment

As the Verslo Zinios business daily reports Lithuania has moved higher to rank 31st (from 36th) in this year’s rating of 57 countries in terms of competitiveness, leaving Estonia, Poland and Slovenia behind.

As shown by the study conducted by the International Institute for Management Development (IMD, Switzerland), Lithuania’s competitiveness was mostly weighed down by its budget deficit, high inflation, slowdown of economic development, worsening of crediting terms, as well as higher jobless rate and a decline in FDI.

“Lithuania’s competitiveness has improved in three of four evaluation categories: although the economic situation worsened, the efficiency of authorities and business has improved, same as the country’s infrastructure,” Mantas Nocius, director of Lithuania’s development agency LEPA said.

Estonia’s drop in the rating – to 35th spot, from 12th last year – was the largest ever.

The ranking is topped by traditional competitiveness leaders – the US, Hong Kong and Singapore.

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Entry filed under: Baltic States, Economics, Estonia, Latvia, Lithuania, Northern Europe, Poland, Politics.

Lithuania is already discussing who could replace Ms Grybauskaite as a commissioner in Brussels The crisis in Lithuania will end on June 21!

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