Harare - The World Economic Forum has ranked Zimbabwe number 136 out of 139 countries in the latest Global Competitiveness Rankings compiled by coming as a result of continued abuses in property rights and low education enrolment rates.According to the WEF, the country scored 3.03 points. Neighbouring South Africa was the highest ranked country in sub-Saharan Africa on 54th place with a score of 4.32 points.
The WEF ranking is based on the Global Competitiveness Index (GCI), developed for the WEF based on 12 pillars of competitiveness.
WEF considers the countrys performance in infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
Weaknesses in other areas include health (ranked 135th in the health sub pillar), low educational enrolment rates, and official markets that continue to function with difficulty (particularly with regard to goods and labour markets, ranked 130th and 129th, respectively), said the WEF.
Specific areas of improvement are ethics and corruption (up from 122nd to 103rd), government inefficiency (up from 124th to 105th), and the security situation (up from 85th to 66th),
On the other hand, some major concerns linger with regard to the protection of property rights (ranked 136th) and undue influence (126th), where Zimbabwe continues to be among the lowest ranked countries, WEF said in the report.
The shaky inclusive government has so far failed to attract significant funds from western donors, who are demanding more reforms before providing aid to the unity government.
However, Imara Asset management last week said the countrys economic recovery is stronger than officially thought, as economic planners tend to ignore the informal sector, which is estimated to account for over 60% of overall economic activity.
Post published in: Africa News