The Global Competitiveness Report for 2005, published by the World Economic Forum, placed Portugal 22nd, ahead of countries and territories such as Spain, Ireland, France, Belgium, and Hong Kong. On the Technology index, Portugal ranked 20th, on the Public Institutions Index, Portugal ranked 15th best, and on the Macroeconomic Index, Portugal was placed 37th. The Global Competitiveness Index 2007–2008 placed Portugal 40th out of 131 countries and territories. However, the Global Competitiveness Report 2008–2009 edition placed Portugal 43rd out of 134.