South Africa's economy was the biggest faller in global competitive rankings, according to an annual survey

Fin24:

SA fell a massive 12 places to No 50 on the list of 55 economies compiled by IMD business school in Lausanne, Switzerland which publishes the World Competitiveness Yearbook.

The US economy maintained its position in the rankings, despite a record trade deficit, its high corporate tax rate on profits and low confidence in the government's handling of public finances.

Singapore was ranked just behind, with Hong Kong, Luxembourg and Denmark rounding out the top five most competitive national economies.

The study lists 55 economies according to 323 criteria that measure how the nations create and maintain conditions favourable to businesses.

SA unlikely to become a tiger economy – the FT