The World Bank has published its Doing Business edition, which annually compares competitiveness rankings of 189 countries.

In preparing its 2016 edition the World Bank has used a method which is  novel in several respects, thus making the content of recently applied indicators more accurate.

The methodology applied up to now had been criticised by a number of member states (including Hungary), due in part to the content of indicators used to measure certain countries’ economic performance. After around two years’ dialogue with the member states, and taking into consideration their remarks (including from Hungary), this year for the first time the World Bank has used revised indicators to compile countries’ competitiveness rankings.

Based on this renewed and revised methodology, Hungary ranks 42nd, thus moving up more than 10 places, which the Ministry for National Economy says is a more realistic depiction of the country’s competitiveness and economic performance than earlier.

This also has an important practical significance, since the World Bank’s competitiveness rankings are regularly monitored by all players in international economic and financial life, as well as potential investors.

The most recent edition of Doing Business compiled by the World Bank is available on this link.

(Ministry for National Economy)