The Philippines saw its ranking decline by four notches in the yearly global competitiveness report by the International Institute of Management Development (IMD), amid elevated uncertainties such as inflation and geopolitical woes.
Based on the 2023 World Competitiveness Yearbook, the country fell to the 52nd spot out of 64 economies.
The weaker ranking of the Philippines was attributed to the decline posted for three out of the four main factors of competitiveness, the report said.— Infrastructure factor also fell from 57th in 2022 to 58th
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