News: Pakistan falls by 9 ranks and placed at 133 in GCR 2013-2014
Publication: ARY News
Date: September 05, 2013
Web Address:- http://www.arynews.tv/en/index.php/business/9184-pakistan-falls-by-9-ranks-and-placed-at-133-in-gcr-2013-2014
Pakistan falls by 9 ranks and placed at 133 in GCR 2013-2014
• Wednesday, 04 September 2013 18:43
KARACHI: Load of corruption, worsen law and order situation and poor governance has been declined Pakistan by 9 levels to 133rd rank among the 144 economies around the world in The Global Competitiveness Report 2013-2014, ARY News reported on Wednesday.
According to the report, which was released by the World Economic Forum, corruption, mismanagement and bad government in Pakistan has deteriorated the economic progress of the country.
The report revealed that Pakistan’s economy has been declining severely due to the following institutions that includes infrastructure, health and primary education, higher education and training, social environment, goods market efficiency, labor market efficiency.
Pakistan ranked 145 in macroeconomic environment while 135 in infrastructure.
For the fifth year in a row, Switzerland ranks as the most competitive country in the world. It is followed by Singapore, Finland, Germany and the United States, which this year reverses a four-year downward trend.
The Global Competitiveness Index notes some of the southern European countries, in particular Greece and Spain, are moving up in the rankings after several years of decline.
The picture in the Middle East is mixed. On the one hand, Gulf countries like the United Arab Emirates and Qatar are doing well in the rankings. On the other hand, the report notes the high degree of uncertainty and political turbulence in the region is having a negative impact on competitiveness.
Conflict-ridden Syria does not figure in this year’s report because researchers were unable to gather needed data. Egypt, another country in turmoil, dropped 11 places from last year’s index, to the 118th spot.
The report says Latin America continues to suffer from low rates of productivity despite robust economic growth in previous years.
The World Economic Forum’s Global Competitiveness Index finds three sub-Saharan African countries – Burundi, Guinea, and Chad – holding up the bottom of 148 countries surveyed.
In sub-Saharan Africa, 45th-ranked Mauritius has overtaken 53rd-ranked South Africa as the region’s most competitive economy. The report notes only eight countries in the region feature in the top 100, which indicates great efforts need to be made to improve Africa’s competitiveness.