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Ukraine's competitiveness: Do we lose opportunities?

Author : Serhiy Bykov

Ukraine stands between Sri Lanka and Moldova in terms of competitiveness
21:25, 11 October 2019

Open source

Ukraine fell to two positions in the Global Competitiveness Index of the states. This does not mean that we, as a competitive state, are degrading. No, we are just maintaining 57 points of the overall classification. Such a fading led to the fact that we descended from 83 to the 85th place. In 2019, we stand between Sri Lanka and Moldova in terms of competitiveness.

While Ukraine is marking time, other countries are taking off and falling. Azerbaijan rose in the ranking by 11 steps compared to last year's ranking and took 58th place in the world. Vietnam managed to get ahead of 10 countries in a year, taking 67th place in the global world. Kuwait and Rwanda are third in terms of growth. Each of these states was ahead of 8 countries over the past year. Rwanda closes a hundred in the global ranking and looks more like a rat, which shot several relatives. But Kuwait takes 48th place, ahead of Hungary. The rapid rise allowed Kuwait to take 6th place in terms of competitiveness in the region.

The World Economic Forum divides the world into 7 regions: East Asia and the Pacific, Eurasia, Europe, and North America, Latin America and the Caribbean, the Middle East and North Africa, South Asia, Black Africa.

Related: IMF cuts forecast of world economy growth by 0.1 percent

The leader of competitiveness in our region is the Russian Federation -  43rd place. This is followed by Kazakhstan (55th place), Azerbaijan (58th place) and Armenia (69th place). Georgia closes the top five at 74th place. Ukraine is only the sixth in the region and 85 in the world. Moldova is 86th, and it is showing a growth trend.

The World Economic Forum divides all state indicators into 13 large groups.

We showed the greatest growth in the development of the product market. We rose from 73 to 57 place. We are ahead of Lithuania and are catching up with Peru. Although a year ago we were between South Africa and Jamaica.

By the way, Ukraine has risen seven steps in the labor market. Previously, we were at 66th place, pursuing Cambodia and ahead of Russia. Now we occupy 59th place between Cape Verde and Lesotho.

Related: Ukraine's economy will grow by 5-7% each year, - President Zelensky

If Ukraine only grew, then we would not fall two lines in the combined ranking of states. So where do we fall? The first is the financial system. Ukraine fell in terms of competitiveness in the financial system by 19 steps (from 117 to 136 place). In 2018, we were between Tanzania and Kyrgyzstan. Today, Ukraine loses to the Democratic Republic of the Congo and is slightly ahead of Venezuela.

Despite the increase in money for transport infrastructure, Ukraine remained here at 57th place. Only the pair of states between which Ukraine is located has changed. In 2018, we were between Egypt and Bulgaria. And Egypt generally improved its result by 4 positions.

Related: Zelensky wants to achieve growth of Ukrainian economy by 7%: He needs investment and stock market

And finally, the courts have become more independent. According to this indicator, Ukraine rose by 12 points. Nevertheless, Ukraine takes 105th place out of 141.

 

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