Posted on July 17, 2015

Qatar ranks first in the World Economic Forum’s annual Global Competitiveness Report. The report assesses the efficiency of 144 governments on measures, including wastefulness of government spending, burden of regulation and transparency of policymaking, to produce an overall global ranking.

Qatar emerges as the country with the most efficient government, followed by Singapore, Finland has been ranked third, Hong Kong fourth and the United Kingdom fifth in the report. Rwanda’s strong showing in seventh position was secured, thanks in large part to the low level of waste in government spending. Venezuela has the least efficient government, behind Italy and Argentina in second and third places. The report evaluates which countries have the most and the least efficient governments. 

The efficiency of government has a significant bearing on a country’s competitiveness and economic growth. Excessive bureaucracy and regulation, a lack of transparency, and inadequate legal frameworks impose additional costs on business and impede expansion.