Slovakia ranks 41st in this year’s competitiveness ranking by the World Economic Forum, an annual drop of two places. Slovakia’s main weakness is the low quality of institutions that hamper improvements in the business environment. The country would benefit from greater independence of the judiciary, improved law enforcement, stronger anti-corruption measures, and less red tape. Low R&D spending means low innovation potential. The ranking is topped by the USA, Singapore, and Germany. Of V4 countries, Czechia ranks 29th, Poland 37th, and Hungary 48th.