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Ukraine climbs eight positions up in GCI of World Economic Forum
03.09.2014 17:47 "Agro Perspectiva" (Kyiv) —
Ukraine, which descended by 11 places in the Global Competitiveness Index (GCI) published by the World Economic Forum last year, has managed to climb eight positions to 76th among 144 countries (84th a year ago among 148 countries), NRCU says referring to the World Economic Forum report.
As to the report, the authors of the rating say that the rise could reflect expectations with the arrival of the new government after Euromaidan protests.
Besides, the World Economic Forum also admits that the conflict in the eastern part of the country and in Crimea slightly affected the results, as data has been collected by that time, but it will affect the country’s competitiveness in the future.
As to the report, progress was achieved thanks to more positive perception of institutions and market efficiency and a solid education system. Among key problems is the rebuilding of institutional structure (130th position), the reduction in dominating of large companies on the domestic markets (129th) and the increase in markets’ competitiveness (125th) and their efficiency (112th). Strengthening of financial markets (107th) will promote the further stabilization of the economy and will allow Ukraine to better use multiple competitive advantages, the experts said.
Reportedly, Switzerland is on the top of the ranking for the sixth year in row. Singapore is second, the United States is third and Finland is fourth. This year’s report features a record number of 144 economies, providing insight into the drivers of their productivity and prosperity. The ranking takes into account 12 categories.
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