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By Global Competitiveness Report 2008-2009, Armenia In 97th Position

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  • By Global Competitiveness Report 2008-2009, Armenia In 97th Position

    BY GLOBAL COMPETITIVENESS REPORT 2008-2009, ARMENIA IN 97th POSITION BY ITS COMPETITIVENESS AGAINST 93rd PLACE LAST YEAR

    Noyan Tapan
    http://www.nt.am/news.php?shownews=118043
    Oc t 9, 2008

    YEREVAN, OCTOBER 9, NOYAN TAPAN. By the Global Competitiveness Report
    (GCR) 2008-2009, Armenia is in 97th place by competitiveness out of
    134 countries - against 93rd place in 2007. The chairman of "Economy
    and Values" research center Manuk Hergian said at the October 9
    press conference dedicated to the release of the report that it is
    the fourth year that Armenia has been included in GCR. In his words,
    GCR is an internationally recognized and authoritative annual report
    that compares, assesses and analyses the economic competition of
    various countries, aa well as the factors that affect their economic
    development.

    M. Hergian said that in a GCR, the countries are classified based on
    the Global Competitiveness Index (GCI), which is based on 12 pillars
    of competitiveness: macroeconomic stability, education, health, etc.

    According to the GCR 2008-2009, the three most competitive countries
    in the world are the U.S, Switzerland and Denmark. Among the CIS
    countries, Russia is the most competitive one, followed by Kazakhstan
    and Azerbaijan. M. Hergian underlined that the index did not take
    into account the impacts of the international financial crisis as
    the data used by the report represent the annual indices of 2007.

    He noted that Armenia's competitive position has not undergone a
    notable change as compared with last year and continues to be at
    quite a low level.

    In his words, Armenia is now facing serious challenges related to
    raising the country's competitiveness, and in case of overcoming these
    challenges Armenia will be able to maintain high rates of economic
    growth. He said that at the present stage of development, Armenia's
    main challenges are related to development of the microeconomic
    bases of its competitiveness, however, the macroeconomic risks have
    also increased in the past year. It was mentioned that the primary
    prolems of the Armenian government are the elimination of the current
    shortcomimgs in the resource and commodity markets, and ensuring an
    institutional field aimed at a stable macroeconomic environment and
    business development.
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