Egypt moves up 15 ranks in Global Competitiveness Report

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Thu, 28 Sep 2017 - 11:03 GMT

 Key indicators of Egypt in Global Competitiveness Report- Photo courtesy of WEF

Key indicators of Egypt in Global Competitiveness Report- Photo courtesy of WEF

CAIRO – 28 September 2017: Egypt moved up 15 ranks in the 2017-2018 World Economic Forum Global Competitiveness Index (WEF GCI), leaving the country ranking 100 out of 137 economies.

The index, which was released Wednesday, said that Egypt has seen improvements in developing state institutions and the infrastructure sectors.

Egypt’s most problematic factors for business were listed as political stability, inflation, corruption, inefficient government bureaucracy, inadequately educated workforce, access to financing and tax rates.

Switzerland and the United States both topped the list of countries scoring 5.9, followed by Singapore, the Netherlands, and Germany at 5.7.

The WEF GCI was launched in 2004 to rank countries according to their competitiveness.

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