Romania has moved up two places in the world competitiveness rankings published by the World Economic Forum, and currently ranks 76th out of 148 countries.

Last year, Romania came out 78th out of 144 countries.

Romania shares the spot with Croatia and is close to Botswana, Georgia, Vietnam, Morocco and Slovakia.

The biggest problems for the country's economic competitiveness, according to the report, come from its fiscal regime, corruption, the difficult access to financing and the inefficiency of authorities.

Public policy instability, poor infrastructure, inflation, a poorly trained workforce, a weak work culture and restrictive regulations on the labor market are also among the minuses for Romania's competitiveness.

Romania ranks 114th for its institutional framework, 100th for its infrastructure, 110th for its labor market and 72nd for its financial market.

The most competitive economies in the world are Switzerland, Singapore, Finland, Germany, the US, Sweden and Hong Kong, according to the report.

More about the report, here.

editor@romania-insider.com