Zimbabwe among world’s least competitive economies
Posted by CM on December 12, 2007
Zimbabwe has been named among the worst competitive countries in a survey of economic competitiveness across the world.
The troubled country, which showed so much promise until just a few years ago came out close to near bottom – with a ranking of 129 out of 131 surveyed economies under the World Economic Forum (WEF)’s Global Competitiveness Index (GCI) for the period 2007-2008.
The dismal rating shows a sustained slide in the economic competitiveness stakes for Zimbabwe, which ranked 112 in the last GCI index for 2006-2007.
Also competing for stakes at the bottom of the index were countries primarily in sub-Saharan Africa, such as Mozambique, which ranked 128, Burundi, a point behind Zimbabwe and Chad, which anchored the index at 131.
In Africa Tunisia topped the rankings followed by South Africa, which despite showing strong economic growth lost out to rivals from 36th position last year to 44th this year. Morocco followed up at 64 and Botswana at 76.
The US regained its status as the world’s most competitive economy rebounding from sixth place last year and knocking off Switzerland from the top spot owing to strong innovation and excellent universities. The Swiss were second this year, followed by Denmark, Sweden, Germany and Finland.
Zimbabwe, which is grappling with an agonising eight-year economic catastrophe, has been scoring poor marks on all recent global economic indices. In September the country ranked 31st out of 48 countries surveyed in the inaugural annual Ibrahim Index of African Governance, published by the Mo Ibrahim Foundation.