Lithuania was ranked 35th on the Competitiveness Index reaching its all-time best result. 138 economies participated in the assessment which is carried out by the World Economic Forum.
In the assessment of the country’s institutions, infrastructure, macroeconomic environment, health and primary education Lithuania maintained its position and was ranked 35th. The strength of investor protection went up 27 positions from 74th place to 47th place. The ranking for the administrative burden and primary education enrolment rate has also improved. Extremely good news to business development is the climb by 38 positions in terms of ease of access to loans (from 91st to 53th) and effect of taxation on incentives to invest by 15 positions up (from 83rd to 68th). Company spending on R&D has also improved by 9 positions (from 46th to 37th).
Estonia maintained its 30th rank and Latvia went down from 44th to 49th place. Poland was ranked 36th. The top three countries have not changed with Switzerland at the top, followed by Singapore and the US.