Hungary slipped back five places on the competitiveness list

The Swiss IMD Institute's 2011 world competitiveness ranking has been published. Hungary slipped back five places on the competitiveness list standing in the 47th position.

Hungary stood in the ranking on the 35th place in 2007, 38th in 2008, 45th in 2009 and 42nd in last year.

Hungary's economic performance also deteriorated. In 2010, Hungary stood on the 40th place now on the 44th. The effectiveness of the government, decreased from 51st to 52nd, business efficiency from 47th to 50th, while infrastructure remained on the 35 th place – reports hvg.hu.