Home / Georgia / Georgia is Advanced by 7 Places in the Global Competitiveness Index
Georgia is Advanced by 7 Places in the Global Competitiveness Index

Georgia is Advanced by 7 Places in the Global Competitiveness Index

Georgia improved position by 7 places in the Global Competitiveness Index and ranks as the 59th by 4, 32 points. According to Global Competitiveness Index, Georgia and Azerbaijan has improved the positions most of all in the Eurasian region.

“It is expected, that both countries might fix economic growth of more than 2, 5% in 2016. This is the lower index than average through the last 10 years, but the index is higher comparing to other Eurasian countries”, – the report notes.

However, high qualified staff, access on financial resource, inflation, ineffective state bureaucracy, and none-sufficient infrastructure is still remained as the problematic factors in Georgia. Switzerland is ranked as the 1st in the rating, Singapore as the 2nd, while the USA – 3rd. Therefore, Germany and Netherlands are not included in the Top-5.

As for other countries, Azerbaijan is the leader of the region, which is ranked as the 37th, Armenia – 79th, Turkey – 55th , Russia – 43rd , Ukraine – 85th , Moldova – 100th.