Israel placed 27th in the World Economic Forum’s annual ranking of 140 global economies for economic competitiveness, unchanged from last year. It was one place behind South Korea and one place ahead of China.
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In the WEF report, released Wednesday, Israel ranked third in the world for innovation, behind Switzerland and Finland. But the WEF gave Israel poor scores for institutions, putting it at 41 — behind Georgia and ahead of Gambia. Israeli government is inefficient and bureaucratic, and policy is inconsistent, WEF said.
On corruption, Israel ranked one place behind China, at 44th.
Israel’s score of 4.98 in the WEF’s Global Competitive Index put it below the average for among 36 developed countries. It was only fourth among Middle East countries, after Qatar, the United Arab Emirates and Saudi Arabia.
Switzerland placed first for the seventh consecutive year, with Singapore retaining its second place and the United States third.