Ethiopia’s Position Slips in Global Competitiveness

October 5th, 2006 Print Print Email Email

By Hayal Alemayehu, The Daily Monitor (Addis Ababa)| October 5, 2006

Ethiopia’s performance in global ompetitiveness slidded by four places in the 2006-2007 global competitiveness survey, ranking 120th out of the 125 countries the survey covered, World Economic Forum’s latest global competitiveness index revealed.Ethiopia’s performance in global ompetitiveness slidded by four places in the 2006-2007 global competitiveness survey, ranking 120th out of the 125 countries the survey covered, World Economic Forum’s latest global competitiveness index revealed.

According to the 2006-2007 global competitiveness report, Ethiopia scored a 2.99 point in the latest rankings, where Switzerland, which tops the list, secured a 5.81 point, and the least performing Angola stood at a 2.50 point.

The report indicated that Ethiopia has turned the fifth least performer among 125 economies treated in the survey, where as a few other African countries have relatively registered progress in performance.

the competitiveness index looks at basic requirements like infrastructure, efficiency enhancers and innovation factors ,among others.

Although sub-Saharan Africa has experienced high growth over the past few years, noted the report, the results of the Global Competitiveness Index suggest that this trend may not be sustainable.

Beating India and China – the world’s major emerging economies – and trailing South Africa, Tunisia turned Africa’s top performer, securing the 30th place in the latest global competitiveness index, according to the survey report released last week.

The rankings are drawn from a combination of publicly available hard data and the results of the Executive Opinion Survey, a comprehensive annual survey conducted by the World Economic Forum, together with its network, according to the World Economic Forum.

The report indicated that in poor performing countries, business activity is affected by a weak institutional framework, characterized by the loopholes in the rule of law, and low levels of transparency and accountability within public institution.

By providing detailed assessments of the economic conditions of nations worldwide, according to the World Economic Forum, the report offers policymakers and business leaders an important tool in the formulation of improved economic policies and institutional reforms

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