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Georgia Improves Position in Global Competitiveness Index

The World Economic Forum has published the 2018 Global Competitiveness Index, under which Georgia ranks 66th among 140 countries, up from the 67th position in 2017. It is noteworthy that in 2017 report Georgia had lost 8 positions. Therefore, the 2018 indicator is lower than the 2016 indicator anyway.

Georgia’s indicators in the key criteria have changed in the following way:

Infrastructure – 66.7 point that is a worsened indicator compared to 2017. As a result, the country has climbed down to 72nd position from 69.
Macroeconomic stability – 74.5 point and 72nd positions, down from 48th position of 2017. This indicator includes the inflation indicator and the situation with debts. Georgia ranks 85th worldwide due to the last criterion.

Skills – Georgia ranks 45th worldwide with 68 points and this is improved indicator compared to 2017. This category includes workforce skills, vocational education methods, workforce training, critical thought, digital skills of population and so on.

Labor market efficiency – 31st position with 65.6 points, that is improved indicator compared to 2017.

Financial system – Georgia ranks 88th with 54 point and this is worsened indicator compared to 2017. The country ranked 63rd in 2017.

Market size – 102nd position with 40.9 point.

Business dynamics– 53rd position with 62 points and this is improved indicator compared to 2017. The country has recorded the best result in the category of business inauguration time – 4th position worldwide.
Innovations – 85th position with 32.7 point.