PETALING JAYA: Malaysia has been ranked second out of nine Asean countries for its efficiency in government spending, according to data from the World Economic Forum (WEF) Global Competitiveness Report 2017-2018. Malaysia, in 15th place, faired better than other European and Asian countries such as Finland (16), Norway (18), China (19), Iceland (23), Sweden (26), and Japan (29). In terms of overall global competitiveness, Malaysia improved two spots to be ranked 23rd in the world from its 25th position last year. The study used 70% survey data from the United Nations and 30% data from 137 countries, and tracks the performance of 137 countries on 12 pillars of competitiveness via the Global Competitiveness Index (GCI). The 12 pillars considered are institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiently, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

Source: The Star September 27, 2017 08:48 UTC