ZAGREB, 17 June 2021 - Croatia ranks 59th on the latest IMD World Competitiveness Ranking that covers 64  economies in the world.

The IMD World Competitiveness Ranking measures the capacity and readiness of economies to manage their competencies to achieve long-term growth, generate jobs and increase welfare.

This year, Croatia has moved upward by one place after, in 2020, the ranking covered 63 economies.

In the last five years, Croatia's annual positions on this ranking ranged between 59th and 61st place.

The latest ranking from the Lausanne-based IMD World Competitiveness Center (WCC) positions Switzerland and Sweden in the first and second place respectively.

The ranking is based on 334 criteria, of which two-thirds are statistical data, and one-third are based on the opinion of businesspeople polled for this purpose.

Considering 20 competitiveness indices, Croatia fares well in international trade (29th place), price level, health and environment, and education.

Croatia, for instance, fares poorly in management practices, labor market, business legislation, and some other criteria.

In comparison to all the EU members, Croatia is at the lowest position.

The president of the National Competitiveness Council, Ivica Mudrinić was quoted as saying that the EU funding available to Croatia could help the country to speed up highly-anticipated structural reforms.

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