Namibia maintains economic ranking

SOUTH Africa showed an overall improvement as it was ranked 41 in The Global Competitiveness Report 2004-2005, released on Wednesday by the World Economic Forum (WEF) in Geneva ahead of all other countries in Africa.

While a large number of countries in sub-Saharan Africa were positioned in the lower half of the rankings of the 104 countries ranked, South Africa at 41 leads the region in the global rankings, improving on last year’s performance at 42. South Africa is ranked higher than the rank of every country in Latin America, except for Chile.Namibia is ranked 52 below, Tunisia at 42, Botswana at 45 and Mauritius at 49.Mozambique is at 92 closely followed by Nigeria at 93.Zimbabwe is ranked 99.The WEF report said Zimbabwe was among the lowest ranking of the 104 countries covered on inflation performance, credit ratings, the soundness of the banking system, the costs of its agricultural policies, brain drain and freedom of the press, among others.Finland remains the most competitive economy in the world and tops the rankings for the second consecutive year.The United States is in second position, followed by Sweden, Taiwan, Denmark and Norway, consecutively.The rankings are drawn from the results of the Executive Opinion Survey, a comprehensive survey conducted by the WEF, which this year polled over 8 700 business leaders in 104 economies worldwide.The survey questionnaire is designed to capture a range of factors affecting an economy’s business environment that is key to sustained economic growth.The WEF’s Growth Competitiveness Index has been a useful tool in thinking about key macroeconomic and institutional elements, critical to the growth process.Analysts says the Global Competitiveness Report – now in its 25th year of publication – has become a primary source of information on the strengths and weaknesses of over 100 economies, accounting for the bulk of global GNP.South Africa is ranked higher than the rank of every country in Latin America, except for Chile.Namibia is ranked 52 below, Tunisia at 42, Botswana at 45 and Mauritius at 49.Mozambique is at 92 closely followed by Nigeria at 93.Zimbabwe is ranked 99.The WEF report said Zimbabwe was among the lowest ranking of the 104 countries covered on inflation performance, credit ratings, the soundness of the banking system, the costs of its agricultural policies, brain drain and freedom of the press, among others.Finland remains the most competitive economy in the world and tops the rankings for the second consecutive year.The United States is in second position, followed by Sweden, Taiwan, Denmark and Norway, consecutively.The rankings are drawn from the results of the Executive Opinion Survey, a comprehensive survey conducted by the WEF, which this year polled over 8 700 business leaders in 104 economies worldwide.The survey questionnaire is designed to capture a range of factors affecting an economy’s business environment that is key to sustained economic growth.The WEF’s Growth Competitiveness Index has been a useful tool in thinking about key macroeconomic and institutional elements, critical to the growth process.Analysts says the Global Competitiveness Report – now in its 25th year of publication – has become a primary source of information on the strengths and weaknesses of over 100 economies, accounting for the bulk of global GNP.