New Zealand has the sixth most efficient government in the world, a report says.

New Zealand has the sixth most efficient government in the world, according to a report by the World Economic Forum (WEF).

The WEF's Global Competitiveness Report 2014 - 2015 rated the efficiency of 144 of the world's governments.

Its efficiency criteria including wasteful government spending, heaviness of regulation and transparent policymaking.

The report found the world's most efficient government was Qatar, followed by Singapore, Finland, Hong Kong and the United Arab Emirates.

Venezuela led the world for inefficiency, with Italy second ahead of Argentina, Lebanon and Libya.

WEF commentator Paul Muggeridge said government efficiency was an important contributor to economic growth.

"The efficiency of government has a significant bearing on a country's competitiveness and economic growth. Excessive bureaucracy and regulation, a lack of transparency, and inadequate legal frameworks all impose additional costs on business and impede expansion," he said.

The report also ranked countries on overall competitiveness. New Zealand rated 17th on this scale.