Qatar has emerged as the country with the most efficient government, closely followed by Singapore with the United Arab Emirates claiming the fifth spot in the World Economic Forum’s annual Global Competitiveness Report.
The report evaluates the efficiency of 144 of the world’s governments on measures including the wastefulness of government spending, burden of regulation and transparency of policymaking, to produce an overall global ranking.
The efficiency of government has a significant bearing on a country’s competitiveness and economic growth, the report said, noting that excessive bureaucracy and regulation, a lack of transparency, and inadequate legal frameworks all impose additional costs on business and impede expansion.
Finland, Hong Kong and New Zealand claimed the third, fourth and sixth place respectively.
Rwanda’s strong showing in seventh position was secured thanks in large part to the low level of waste in government spending, the report said.
At the other end of the scale, Venezuela has the least efficient government, some way behind Italy and Argentina in second and third places.
Most efficient countries:
4. Hong Kong
5. United Arab Emirates
6. New Zealand
Copyright 2022 Al Hilal Publishing and Marketing Group