Armenia improves its position in global competitiveness index by three notches
YEREVAN, September 5. / ARKA /. Armenia’s ranking in the World Economic Forum's global competitiveness index in 2013 has edged up three notches to the 79th position among 148 surveyed nations, according to Manuk Yergnyan, head of Yerevan-based Economy and Values research center.
The previous report included 144 nations. The Index is based on measures of 12 basic pillars such as institutions, infrastructure, and the macroeconomic environment.
According to Yergnyan, in 2013 Armenia has returned to where it was back in 2005, when it was first surveyed. Yerganyan said the report notes that Armenia is in the transition from a resource-based development stage to productivity increase stage.
In terms of macro-economic environment, efficiency of goods market, technological training, improvement of entrepreneurship Armenia registered improvement from one to 20 points.
Yergnyan said in terms of inflation Armenia has improved its position by 104 points due to the fact that in 2011 the average inflation rate was 7.7 %, securing the country the 105th position among 142 countries, and in 2012 the figure was 2.5 %, which allowed Armenia to move to the first group of countries with the rate of inflation up to 2.9 %.
Armenia has worsened its position in terms of such indicators as productivity of the labor market, dropping 20 points to 50th position and the availability of credits (a decline of 19 points).
"With regard to the labor market, the deterioration index was mainly due to the improvement of the position of other countries. In assessing the credit availability the report considered the process of granting loans to enterprises on the basis of a survey of company managers,", Yergnayn said.
Armenia's position deteriorated in health and primary education, higher education and training, market size, salary payment flexibility, intensity of personnel training, misuse of government funds, availability of research and service for retraining.
The list of the most competitive countries has not changed. It is topped by Switzerland, followed by Singapore, Finland, Germany and the USA.
In he CIS, Armenia is ahead of only Moldova (89th) and Kyrgyzstan (121st). Azerbaijan is on the 39th position, Kazakhstan is 50th, Russia is 64th, Ukraine is 84th and Georgia is 72nd.
The Global Competitiveness Report is compiled on the basis of statistical data and surveys among businesses. This year's survey involved senior executives of some 100 Armenian small and medium businesses. ---0---