Israel Ranks 20th On IMD ‘Stress Test’


israel-koselSwiss business school IMD, which traditionally examines the competitiveness of the world’s leading economies, decided this year to make an exception and hold durability tests to the 57 countries as well. The ranking is based on 20 criteria divided into four categories: Economic forecasts, the stability of the business sector, the stability of the government, and which society is better equipped to fare through the global financial crisis.Denmark achieved the highest overall score – 100, followed by Singapore, Qatar, Norway, Hong Kong, Switzerland and Sweden.

The United States continued to hold the lead in the overall World Competitiveness Yearbook rankings this year, but finished 28th in the new measure examining the resistance to the financial crisis.

Israel, with a passing grade of 62.2, preceded the US and ranked 20th. The Jewish state also came before countries like Taiwan (21), Germany (24), Japan (26), South Korea (29) and Britain (34).

Britain’s situation is better than that of France (44), Italy (47) and Spain (50). China, on the other hand, precedes Israel and is ranked 18th.

Russia, which denied the existence of a financial crisis for month, ranked 51st – seventh from the end of the list, with a 7.13 grade – showing that it is not immune at all to financial crises. It was followed only by Hungary, Croatia, Romania, Ukraine, Argentina, and Venezuela, which finished last.

Singapore led the ranking of governmental steps taken in order to eradicate the crisis, while Italy came in last. Israel ranked 20th on this list as well, and came in 12th in terms of economy forecast. As for social durability and the stability of the business sector, the Jewish state ranked 22nd and 25th, respectively.

{Yair Israel/Ynet}