Bosnia and Herzegovina ranked 103rd in Global Competitiveness Index 2017-2018

Photo: EPA/LESZEK SZYMANSKI

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The World Economic Forum published the Global Competitiveness Report 2017-2018

The report features the Global Competitiveness Index 2017-2018, which presents a framework and a corresponding set of indicators in three principal categories (basic requirements, efficiency enhancers, and innovation and sophistication factors) and twelve policy domains for 137 economies.

Those twelve policy domains - or pillars - are institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

Bosnia and Herzegovina is ranked 103rd overall, with the World Economic Forum listing inefficient government bureaucracy, corruption, tax rates, policy and government instability and access to financing as the most problematic factors for doing business.

When it comes to twelve policy domains, Bosnia and Herzegovina is ranked 56th in the field of health and primary education and 64th when it comes to macroeconomic environment.

However, the country is way down the list in many other categories, particularly when it comes to 1st pillar (institutions, ranked 126th), 6th pillar (goods market efficiency, also 126th), 7th pillar (labor market efficiency, ranked 123rd) and 12th pillar (innovation, ranked 123rd).

Furthermore, Bosnia and Herzegovina is ranked 131st in ‘quality of the education system’, 132nd in ‘capacity for innovation’, 134th in ‘byer sophistication’, 135th in ‘country capacity to retain talent’ and 136th in ‘country capacity to attract talent’ sub-categories.