Malta has been ranked 47th out of 144 countries in the 2014-2015 world competitiveness report published today. In the previous report, Malta ranked 41st out of 148 countries.

The government said in a statement the slightly-lower score followed a record high position in competitiveness attained in 2013-2014.

Malta, however, maintained its lead and ranked ahead of other EU countries including Italy, Hungary, Slovenia and the Slovak Republic. 

The country placed in 18th position among the EU states and 65th in the macroeconomic environment and 35th in credit rating overall. Malta also scored significantly well in the soundness of banks, quality of health and primary education.

The Economy Ministry said new and innovative initiatives to help start-up business and reduce bureaucracy were already being developed and would be launched in the coming months to boost Malta’s competitiveness.

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