Armenia’s rank in Global Competitiveness Index remains almost unchanged throughout last decade

ARKA, Armenia

July 14 2017

YEREVAN, July 14. /ARKA/. Armenia’s rank in the Global Competitiveness Index remains almost unchanged throughout the last decade, Manuk Hergnyan, head of EV Consulting CJSC, told journalists on Friday.

Armenia improved its position by three notches in the 2016-2017 Global Competitiveness Index and came 79th among 138 countries.

«Armenia started in the Global Competitiveness Index from the 81st position in 2005 and since then our indicator has faced a certain regress, but has already recovered,» Hergnyan said. « As a result, we found ourselves on the same place after ten years of fluctuations.»

In his opinion, it has resulted from competition with other countries, which are trying to reach progress as well.

Nevertheless, he said, Armenia has managed to improve some indicators here, but this has had little impact on its general rank.

«Today we are ranked 79th after improving our position, compared with the previous period, by three notches, but we have a certain improvement in other indicators, such as productivity of markets, innovations and business improvement,» Hergnyan said.

As faults, he pointed out some macroeconomic indicators, particularly public debt, education quality and commercialization of scientific research.

Armenia for the first time was included in the Global Competitiveness Report in 2005 – it was ranked then 79th among 117 countries.

After that, the country's rank was gradually downgrading to 98th in 2010, but then it began improving and reached 79th among 148 countries in 2013, 85th among 144 countries in 2014 and 82nd among 140 countries in 2015. –0—

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