In terms of competitiveness, Montenegro, with 4,07 points, surpasses most of the countries of Central and Eastern Europe, according to the report of the World Economic Forum (WEF).
In the report entitled Building a more competitive Europe, it was assessed that the Montenegrin economy is characterized by a stimulating environment for entrepreneurship, above the EU average and far ahead of other candidate countries.
The WEF reminded that business in Montenegro is started in a short time and with several administrative procedures, but that the country still needs to respond to several challenges.
"The country needs to respond to the challenges related to the digital agenda and the labor market and reduce youth unemployment, which rose dramatically in 2012 to 41 percent. In the future, further steps will be needed to build a knowledge-based economy, including progress in innovation, education and training", stated the report, which includes EU member states and candidates, then advanced economies and major developing economies, i.e. members of the BRICS group (Brazil, China, India, Russia).
Among the candidate countries for the EU, Iceland is ranked best with 5,15 points out of a maximum of seven. They are followed by Montenegro with 4,07 points, Turkey with 3,83, Macedonia with 3,62 and Serbia with 3,46 points.
The average at the level of 28 EU members is 4,56 points, with the most competitive Finland having 5,7 and the least competitive Romania 3,64.
When it comes to ranking by area, i.e. inclusive and sustainable growth, Montenegro is in the third position among the candidate countries.
Iceland and Macedonia are ahead, while Serbia is in fourth place, and Turkey is last. In the area of inclusive growth, Montenegro received 4,16 points out of seven, labor market and employment 3,69, social inclusion 4,62, and sustainable growth and ecological sustainability 4,76 each.
The WEF Competitiveness Report runs every two years and assesses Europe's progress in improving competitiveness based on the Europe 2020 strategy.
It is the second report in a row, and the WEF will continue to do them until the end of the decade. The ten-year Europe 2020 strategy was launched by the European Commission (EC) in March 2010.
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