Portugal is more competitive, but bureaucracy is still an issue

  • ECO News
  • 27 September 2017

In 11 years, Portugal conquers its second increase in the competitiveness global ranking compiled by the World Economic Forum. But Portugal still faces some restrictions.

Portugal is more competitive than last year. In the Competitiveness Ranking compiled by the World Economic Forum, disclosed this Wednesday, Portugal went up four places, from 46th to 42nd out of 137 countries analysed, elevating the competitiveness score from 4.48 to 4.57. Therefore, the country returns to the same situation registered by the Forum in 2006.

We should recall that Portugal took a plunge in this ranking between 2006 and 2013, falling again in 2015 and 2016, after an increase in 2014. Therefore, this is the second increase in this ranking in over a decade.

However, some issues in terms of the country’s competitiveness are highlighted, namely the “Government’s ineffective bureaucracy” and “taxes and fees”, as well as the labor regulation.

Concerns over political instability decreased to the fourth issue that most restricts competitiveness; access to financing and tax regulation are also issues that compromise competitiveness.