Wednesday, September 27 2017 16:02
Naira Badalian

Armenia rose by 6 points in the rating of competitiveness of the WEF

Armenia rose by 6 points in the rating of competitiveness of the WEF

ArmInfo. Armenia has improved its position in the ranking of competitive countries for a year, having risen from 79th to 73rd place among 137 countries. The Global Competitiveness Report 2017-2018 (Global Competitiveness Index - 2017-2018) was unveiled on September 27 by the World Economic Forum. Sevak Hovhannisyan, a member of the Council of the Research Center "Economics and Values", presenting the document, called the indicators the best for the whole period of research. According to the report, despite the emerging positive dynamics, the economies of the countries of the Eurasian region in these countries grows asynchronously. So, the biggest growth was registered by the Moldovan housekeeper, having risen in the rating by 11 positions - on the 89th line.

It is noted that government reforms, aimed at increasing the transparency and efficiency of the work of the state apparatus, had a positive impact on the indicators in Armenia. At the same time, as a negative factor, a high level of deflation is indicated, which in 1.4% was 1.4% in 2016 (inflation is 0.5-3%).

Of the countries in the region, Iran is on the 69th place, Turkey -53rd, Azerbaijan - by 35th, Georgia took 67th place. Kazakhstan ranks 57th in the ranking, Tajikistan - 79th, Ukraine - 81st, and Kigryzstan - 102th.  Stabilization of macroeconomic conditions allowed Russia to rise in the rating of global competitiveness - if Russia was in 43rd place a year ago, now it has risen by the 38th.

The top 10 most competitive economies in the world are named Switzerland, the United States, Singapore, the Netherlands, Germany, Hong Kong, Sweden, the United Kingdom, Japan and Finland.

Armenia was first included in the World Competitiveness Report in 2005, taking 79th place out of 117 countries. In 2010, the republic dropped to 98th place in the rating of 139 countries, in 2013 it rose to 79th line (from 148 countries), in 2014 the same was recorded decline - 85th among 144 countries in the world, in 2015 - 82 place from 140 countries. And, finally, Armenia took 79th place among 138 countries in the competitiveness rating for 2016-2017, having improved its positions by three points.

Earlier, on July 13, the Armenian government approved the list of measures for 2017-2018, necessary to improve the country's position in the rating. According to the Minister of Economic Development and Investments Suren Karayan, the government has studied the indicators of the previous index, identified shortcomings and areas for which reforms are needed in the coming years. As the Minister pointed out, in particular, 78 gaps in the 10 main areas were diagnosed with gaps and necessary measures to be taken.  "Conducting 36 events will improve Armenia's position in the Global Competitiveness Index," the minister said.

The Global Competitiveness Index is a global study and the accompanying rating of the world's countries in terms of economic competitiveness. Calculated according to the World Economic Forum methodology, based on a combination of publicly available statistics and the results of a global survey of company executives, an extensive annual survey conducted by the World Economic Forum in conjunction with a network of partner organizations - leading research institutions and organizations in countries analyzed in report. The research has been conducted since 2004 and currently represents the most comprehensive set of competitiveness indicators in various countries of the world. The index is made up of 12 terms of competitiveness that detail the competitiveness of the countries of the world at different levels of economic development. This is the "Quality of Institutions", "Infrastructure", "Macroeconomic stability", "Health and primary education", "Higher education and vocational training", "Efficiency of the goods and services market", "Labor market efficiency", "Financial market development" Technological level "," The size of the internal market "," Competitiveness of companies "and" Innovation potential."

POST A COMMENT
Input digits     


News
Central Bank of Armenia raised refinancing rate from 6% to 6.5%Central Bank of Armenia raised refinancing rate from 6% to 6.5%
Converse4Women - comprehensive support for Converse Bank female borrowersConverse4Women - comprehensive support for Converse Bank female borrowers
Kocharian on energy prospects for Armenia: It is not a problem to  come to an agreement with RosatomKocharian on energy prospects for Armenia: It is not a problem to  come to an agreement with Rosatom
The number of terminated CMTPL contracts continues to grow rapidly in  ArmeniaThe number of terminated CMTPL contracts continues to grow rapidly in  Armenia
Forecast: The economic consequences of the war for Armenia are still  aheadForecast: The economic consequences of the war for Armenia are still  ahead
$ 3 billion will be allocated from the state budget for the 4th  tranche of the North-South road$ 3 billion will be allocated from the state budget for the 4th  tranche of the North-South road
EBRD to provide Air Navigation of Armenia with EUR 3 millionEBRD to provide Air Navigation of Armenia with EUR 3 million
Head of the Audit Chamber of Armenia presented facts of abuses in the  field of road constructionHead of the Audit Chamber of Armenia presented facts of abuses in the  field of road construction
S&P revised the outlook on Ameriabank to ``Stable`` S&P revised the outlook on Ameriabank to ``Stable`` 
Armenia`s international reserves increased by 11.3% per annum by June  2021Armenia`s international reserves increased by 11.3% per annum by June  2021
Central Bank of Armenia: Net inflow of transfers from individuals  grew in Jan-April 2021 by 80% per annumCentral Bank of Armenia: Net inflow of transfers from individuals  grew in Jan-April 2021 by 80% per annum
Armenia will be among the nominees for World Travel AwardsArmenia will be among the nominees for World Travel Awards
Armenia and Iran intend to expand cooperation in a number of economic  areasArmenia and Iran intend to expand cooperation in a number of economic  areas
Ministry of Finance: Three quarters of Armenia`s public debt is in  foreign currency, which creates additional risks in connection with  the management of public debt Ministry of Finance: Three quarters of Armenia`s public debt is in  foreign currency, which creates additional risks in connection with  the management of public debt 
World Bank`s forecast for GDP growth in Armenia has not changed: 3.4%  in 2021, accelerating to 4.3% in 2022World Bank`s forecast for GDP growth in Armenia has not changed: 3.4%  in 2021, accelerating to 4.3% in 2022
CBA initiative to create a centralized register of bank accounts of  individuals was approved by relevant parliamentary committeeCBA initiative to create a centralized register of bank accounts of  individuals was approved by relevant parliamentary committee
RUSAL`s foil-rolling mills to join AL +RUSAL`s foil-rolling mills to join AL +
AraratBank raises USD 14.5 m arranged by Symbiotics AraratBank raises USD 14.5 m arranged by Symbiotics
UAE UAE "Masdar" company to build a solar power plant in Armenia with a  capacity of 200 MW
EDB is ready to consider integration projects in the region   EDB is ready to consider integration projects in the region  
Customer base of Armenian banks increased by 6% per annum by April,  and accounts  - by 4.3%Customer base of Armenian banks increased by 6% per annum by April,  and accounts  - by 4.3%
Head of Telecom Armenia shared his success story at Reinvent by  Renderforest conferenceHead of Telecom Armenia shared his success story at Reinvent by  Renderforest conference
In Armenia`s foreign trade turnover Russia and China continue to be  leaders in exports and importsIn Armenia`s foreign trade turnover Russia and China continue to be  leaders in exports and imports
Telecommunications sector revenue in Armenia growsTelecommunications sector revenue in Armenia grows
Cargo transportation in Armenia by May 2021 increased by 17.7%, with  a decline in passenger traffic by 17.4%Cargo transportation in Armenia by May 2021 increased by 17.7%, with  a decline in passenger traffic by 17.4%
The metallurgical industry of Armenia increased production by 26.9%  per annum by May 2021The metallurgical industry of Armenia increased production by 26.9%  per annum by May 2021
Armenia`s industrial sector slowly recovers from coronavirus crisisArmenia`s industrial sector slowly recovers from coronavirus crisis
Armenia`s foreign trade turnover with EU countries increased by 12.4%  per annum by May 2021Armenia`s foreign trade turnover with EU countries increased by 12.4%  per annum by May 2021
Armenia`s foreign trade turnover with  EAEU countries grew by 1.6%  per annum in January-April 2021Armenia`s foreign trade turnover with  EAEU countries grew by 1.6%  per annum in January-April 2021
Armenia`s foreign trade turnover increased by 7.2% per annum in  January-April 2021Armenia`s foreign trade turnover increased by 7.2% per annum in  January-April 2021
 Armenia intends to form a national innovation system by 2025 Armenia intends to form a national innovation system by 2025
Revenue part of Yerevan budget in 2020 is fulfilled by 84.6%Revenue part of Yerevan budget in 2020 is fulfilled by 84.6%
Armenia`s public debt is approaching $ 9 billionArmenia`s public debt is approaching $ 9 billion
In 2020, subsidies from state treasury of Armenia to regional  administrations amounted to about $ 115 millionIn 2020, subsidies from state treasury of Armenia to regional  administrations amounted to about $ 115 million
Armenia`s Ministry of Finance: In 2020, the budget of the  agricultural sector was revised downwardArmenia`s Ministry of Finance: In 2020, the budget of the  agricultural sector was revised downward
Aluminum foil production volumes decreased by 3.7% per annum in  January-April 2021 in ArmeniaAluminum foil production volumes decreased by 3.7% per annum in  January-April 2021 in Armenia
Electricity generation in Armenia slows down annual growth rateElectricity generation in Armenia slows down annual growth rate
Armenian textile industry increased 3.2-fold in January-April 2021Armenian textile industry increased 3.2-fold in January-April 2021
Economic activity in Jan-April 2021 increased by 2.6% per annum in  ArmeniaEconomic activity in Jan-April 2021 increased by 2.6% per annum in  Armenia
Export of buckwheat from Russia has been temporarily bannedExport of buckwheat from Russia has been temporarily banned
At the end of June, Agarak Copper-Molybdenum Combine CJSC will switch  to completely closed cycle of water consumption ahead of scheduleAt the end of June, Agarak Copper-Molybdenum Combine CJSC will switch  to completely closed cycle of water consumption ahead of schedule
In 2020, U.S., CoE and UN donors` financial assistance to Corruption  Prevention Commission of RA exceeded state budget allocations In 2020, U.S., CoE and UN donors` financial assistance to Corruption  Prevention Commission of RA exceeded state budget allocations 
Ameriabank ready for initial public offering of shares - Managing Director, Financial Institutions for EBRDAmeriabank ready for initial public offering of shares - Managing Director, Financial Institutions for EBRD
In 2020, the parliament spent 466 million drams on bonuses, monetary  rewards and special paymentsIn 2020, the parliament spent 466 million drams on bonuses, monetary  rewards and special payments
The y-o-y inflation in Armenia in May 2021 was 5.9%, for five months  - 4.7%, with a deflation of 0.4% in May The y-o-y inflation in Armenia in May 2021 was 5.9%, for five months  - 4.7%, with a deflation of 0.4% in May 
Janjughazyan told how much the state spent on the maintenance of the  bureaucratic apparatus of ArmeniaJanjughazyan told how much the state spent on the maintenance of the  bureaucratic apparatus of Armenia
Caucasian Power Transmission Network Program will be operational  after 2025 at bestCaucasian Power Transmission Network Program will be operational  after 2025 at best
Martin Galstyan: The new forecast report of the Central Bank for 2021  is supplemented with an apocalyptic scenario, but in reality the  economy began to breathe and expectations for GDP growth will be  improvedMartin Galstyan: The new forecast report of the Central Bank for 2021  is supplemented with an apocalyptic scenario, but in reality the  economy began to breathe and expectations for GDP growth will be  improved
Armenian and Russian sides to discuss extension of service life of  Armenian NPP until 2031Armenian and Russian sides to discuss extension of service life of  Armenian NPP until 2031
Deputy Minister: Discussions are underway with Iran on the launch of  the Meghri FEZ, the issue became especially relevant after the war in  ArtsakhDeputy Minister: Discussions are underway with Iran on the launch of  the Meghri FEZ, the issue became especially relevant after the war in  Artsakh
In 2020, expenditures of Armenian Foreign Ministry amounted to  approximately $ 35 millionIn 2020, expenditures of Armenian Foreign Ministry amounted to  approximately $ 35 million
In 2020, EU allocated 68.7 million euros to Armenia for budget  assistance In 2020, EU allocated 68.7 million euros to Armenia for budget  assistance 
The company of the former Deputy Energy Minister and the son of the  former Prime Minister of Armenia received another tax benefit from  the governmentThe company of the former Deputy Energy Minister and the son of the former Prime Minister of Armenia received another tax benefit from the government
Ardshinbank invited children to the cinema on International Children’s DayArdshinbank invited children to the cinema on International Children’s Day
IFC’s New Partnership with Evocabank, to Support Smaller Businesses, Boost Resilience and Drive Recovery in ArmeniaIFC’s New Partnership with Evocabank, to Support Smaller Businesses, Boost Resilience and Drive Recovery in Armenia
Ameriabank Announces a Contest for Bank Card DesignAmeriabank Announces a Contest for Bank Card Design
Scientists will again discuss problems and prospects for development  of geothermal energy in ArmeniaScientists will again discuss problems and prospects for development  of geothermal energy in Armenia
PSRC Head: There are no problems with the production capacity of  electricity in ArmeniaPSRC Head: There are no problems with the production capacity of  electricity in Armenia
Chairman of SCPEC: The price of butter will rise again Chairman of SCPEC: The price of butter will rise again 
Head of SCPEC: There will be no reduction in the price of gasoline Head of SCPEC: There will be no reduction in the price of gasoline 
Read more


Exchange rates
15.06.2021
RUB7.180.03
USD515.68-1.31
EUR625.16-1.02
GBP725.87-2.57
CAD423.45-1.88
JPY46.81-0.33
CNY80.49-0.47
CHF573.93-1.14