TIRANA, Sept. 30 – Albania climbed four places to 93rd in the 2015-2016 Global Competitiveness report published by the World Economic Forum, leaving behind only Serbia and Bosnia and Herzegovina among regional competitors.
The report shows Albania ranks 87th on basic requirements, which includes institutions, infrastructure, macroeconomic environment and health and primary education. Efficiency enhancers, involving higher education and training, labour market efficiency, financial market development, rank Albania 98th.
Albania ranks worse on innovation and sophistication factors, 115th out of 140 countries.
A survey with Albanian businesses shows tax rates, access to financing and corruption are the top three most problematic factors for doing business in Albania.
Tax rates are problematic for 21.7 percent of respondents, compared to 18.9 percent who rate access to financing and 13.8 percent corruption as the most problematic factors for doing business.
Complexity of tax regulations, inefficient government bureaucracy and inadequate supply of infrastructure are rated as the fourth to sixth barriers for doing business in Albania.
The report describes Albania as a country with a population of 2.8 million people and a GDP per capita of $4,781.
Albania achieved its best rating at the global competitiveness report in the 2011-2012 report when it ranked 78th.
This year’s Global Competitiveness Report assessed the competitiveness of 140 economies based on 12 pillars which include institutions, infrastructure, health and education, labour market efficiency, technological readiness, innovation and business sophistication.
