Armenia improves its position in World Competitiveness Report
27.09.2017,
14:30
Armenia has moved six notches up on the World Competitiveness Report to 73rd place out of 137 countries, the best ever position, according to Sevak Hovhanisyan, from the Economics and Values research center.
YEREVAN, September 27. /ARKA/. Armenia has moved six notches up on the World Competitiveness Report to 73rd place out of 137 countries, the best ever position, according to Sevak Hovhanisyan, from the Economics and Values research center.
Speaking at a news conference today he said Armenia has been moving up in the rating for four years already. In his words, this suggests that favorable prerequisites have been created to ensure economic growth in the medium term.
Also, according to the survey, in terms of the main indicators, Armenia does not lag behind, and in some cases it is even ahead of many Eurasian countries, embracing largely the former Soviet republics, except for Ukraine and the Baltic countries. Armenia is only smaller by the size of its market.
Hovhanisyan noted that the greatest effect on the rating was made by government reforms aimed at increasing work efficiency, transparency and confidence building. According to him, the negative factor was the high level of deflation, which was 1.4% in 2016. The normal indicator is 0.5-3% inflation.
Another former Soviet republic of Azerbaijan is 35th, Russia is 38th, Kazakhstan is 57th, Georgia is 67th, Tajikistan is 79th, Moldova is 89th and Kyrgyzstan is 102nd.
Armenia was first included in the World Competitiveness Report in 2005, taking the 79th place out of 117 countries. After that, the country's position gradually deteriorated to the 98th position out of 139 countries in 2010. The country's position improved in 2013 when it was rated 79th. In 2014, Armenia was 85th out of 144 countries, and in 2015 it was 82nd out of 140 countries. In 2016, Armenia improved its performance by 3 points occupying the 79th place.
Competitiveness ratings are based on a combination of publicly available statistics and the results of a survey of company executives - an extensive annual survey conducted by the World Economic Forum in conjunction with a network of partners. -0-
Speaking at a news conference today he said Armenia has been moving up in the rating for four years already. In his words, this suggests that favorable prerequisites have been created to ensure economic growth in the medium term.
Also, according to the survey, in terms of the main indicators, Armenia does not lag behind, and in some cases it is even ahead of many Eurasian countries, embracing largely the former Soviet republics, except for Ukraine and the Baltic countries. Armenia is only smaller by the size of its market.
Hovhanisyan noted that the greatest effect on the rating was made by government reforms aimed at increasing work efficiency, transparency and confidence building. According to him, the negative factor was the high level of deflation, which was 1.4% in 2016. The normal indicator is 0.5-3% inflation.
Another former Soviet republic of Azerbaijan is 35th, Russia is 38th, Kazakhstan is 57th, Georgia is 67th, Tajikistan is 79th, Moldova is 89th and Kyrgyzstan is 102nd.
Armenia was first included in the World Competitiveness Report in 2005, taking the 79th place out of 117 countries. After that, the country's position gradually deteriorated to the 98th position out of 139 countries in 2010. The country's position improved in 2013 when it was rated 79th. In 2014, Armenia was 85th out of 144 countries, and in 2015 it was 82nd out of 140 countries. In 2016, Armenia improved its performance by 3 points occupying the 79th place.
Competitiveness ratings are based on a combination of publicly available statistics and the results of a survey of company executives - an extensive annual survey conducted by the World Economic Forum in conjunction with a network of partners. -0-
