News / National
Zimbabwe slips in world competitive ranking
08 Oct 2014 at 11:15hrs | Views
Zimbabwe has ranked 124th out of 144 countries with a score of 3.54, according to the World Economic Forum's 2014/2015 Global Competitiveness Index (GCI).
Last year is was ranked 123 and last of last year it was sitting at position 131.
The index looked at 12 "pillars" - institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technology readiness, market size, business sophistication, and innovation.
Public institutions continue to receive a weak assessment, particularly related to corruption, government favoritism, and the protection of property rights (138th), reducing the incentive for businesses to invest.
Despite efforts to improve its macroeconomic environment- including the dollarization of its economy in early 2009, which brought down inflation and interest rates - Zimbabwe still receives a low rank in this pillar (87th), which is characterized by high government debt, a negative savings rate, and low inflation.
Weaknesses in other areas include health (129th in the health subpillar); low education enrollment rates, with only every second child participating in secondary education; and formal markets that continue to function with difficulty, particularly goods and labor markets, which rank 133rd and 137th, respectively.
On basic requirements, Zimbabwe was ranked 114, Institutions 113, Infrastructure 124 and Health and primary education 106.
The most problematic factors for doing business included access to financing, policy instability, inadequate supply of infrastructure, inefficient government bureaucracy, corruption, restrictive labor regulations, tax regulations and tax rates.
Download full Report >>> HERE
Download Country highlights >>> HERE
Last year is was ranked 123 and last of last year it was sitting at position 131.
The index looked at 12 "pillars" - institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technology readiness, market size, business sophistication, and innovation.
Public institutions continue to receive a weak assessment, particularly related to corruption, government favoritism, and the protection of property rights (138th), reducing the incentive for businesses to invest.
Despite efforts to improve its macroeconomic environment- including the dollarization of its economy in early 2009, which brought down inflation and interest rates - Zimbabwe still receives a low rank in this pillar (87th), which is characterized by high government debt, a negative savings rate, and low inflation.
On basic requirements, Zimbabwe was ranked 114, Institutions 113, Infrastructure 124 and Health and primary education 106.
The most problematic factors for doing business included access to financing, policy instability, inadequate supply of infrastructure, inefficient government bureaucracy, corruption, restrictive labor regulations, tax regulations and tax rates.
Download full Report >>> HERE
Download Country highlights >>> HERE
