Zim stable on global competiveness index

Published: 22 January 2014

Zimbabwe remains relatively stable at 131st position out of 148 countries on the 2012-2013 Global Competitiveness Report compiled by the World Economic Forum

"Public institutions continue to receive a weak assessment, particularly related to corruption, security, and Government favoritism, although overall the assessment of this pillar has improved somewhat since a few years ago," said the report.

The report however highlighted that the index has not risen much because major concerns remain with regard to the protection of property rights (137th), where Zimbabwe is among the lowest-ranked countries, reducing the incentive for businesses to invest.

This position is an issue as investors are not yet confident about the protection of their investment if they invest in the country.

"Despite efforts to improve its macroeconomic environment - including the dollarisation of its economy in early 2009, which brought down inflation and interest rates - Zimbabwe still receives a low rank in this pillar (114th), demonstrating the extent of efforts still needed to ensure its macroeconomic stability," said the report .

Taking a comparison stance, South Africa is ranked 53rd out of 148 countries this is down one position out of 144 countries in the 2012- 2013 report.

According to the report the country has overtaken Brazil in competitiveness, pushing it into second place among the BRICS nations – Brazil, Russia, India, China and South Africa - on the Global Competitiveness Index.

South Africa's gross domestic product is $582-billion, with a ranking of 25th in the world.
- bh24