Budget deficit lowest since August 2011
Israel is ranked 17th in competitiveness overall, the same as in 2010.
Israel is the world's top investor in R&D as a proportion of GDP in 2011, according to the World Competitiveness Index of 59 countries by Switzerland's IMD Business School. Israel is ranked 17th in competitiveness overall, the same as in 2010.
Israel was also ranked first by IMD in the functioning of central banks.
Hong Kong and the US tied for first place in global competitiveness this year, taking over from Singapore, which fell to third place.
The Federation of Israeli Chambers of Commerce represents IMD in Israel. Chambers of Commerce president Uriel Lynn said, "The Israeli economy continues to demonstrate robustness and stability compared with the world's leading economies. The survey puts Israel among the top 20 countries, economically speaking, despite the challenges facing Israel over the coming year, such as reducing the public sector and spending, cutting bureaucracy, and the burden on the business sector, investment in infrastructure in the periphery, including in education, and boosting exports."
Israel is ranked 54th out of the 59 countries in participation in the labor force, the same as in 2010. Israel's ranking for cost of living fell to 49th place from 47th place, and its ranking for persons dependent on the government was the penultimate 58th place.
Israel's ranking for technology infrastructure rose to 4th place in 2011 from 5th place in 2010; science infrastructure rose to 4th place from 6th place; but its ranking for basic infrastructure (roads, railways, energy sources, etc.) was unchanged in 47th place. Israel's ranking on environmental legislation fell to 21st place this year from 19th place last year, and its ranking on education fell to 14th place from 13th place.
Published by Globes [online], Israel business news - www.globes-online.com - on May 18, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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