Kazakhstan falls to 53rd spot in WEF's Global Competitiveness Report

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ASTANA. KAZINFORM - The World Economic Forum (WEF) has published its annual report on the Global Competitiveness Index (GCI) for 2016-2017, Kazinform has learnt from the National Analytical Center of the Republic of Kazakhstan.

Based on the updated Global Competitiveness Report, out of 138 countries mentioned on the list Kazakhstan is ranked 53rd. It should be noted that Central Asian leader lost 11 spots as last year it occupied the 42nd place. In the GCI, Kazakhstan sits between Rwanda (52nd) and Costa Rica (54th).

Azerbaijan is the highest ranked country among the CIS member states at the 37th spot. Russia is ranked 43rd. Georgia, Tajikistan, Armenia and Ukraine are featured into the top 100 of the report. Moldova and Kyrgyzstan are placed 100th and 111th respectively.

Switzerland tops the Global Competitiveness Report for the eighth consecutive year followed by Singapore and the U.S.

Yemen (138th), Mauritania (137th) and Chad (136th) are at the bottom of the rankings.

Recall that Kazakhstan demonstrated the best result in the Global Competitiveness Report by moving up to the 42nd spot in 2015-2016.

The WEF has been issuing the GCR since 1979. It is based on metrics of economic growth and cultural development and takes into account information gathered from about 140 countries.

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