DESPITE claims by the government that the country’s economy is on the mend, Zimbabwe has been ranked among the worst-performing economies in the world in a report released by the World Economic
Forum (WEF) this week.
The WEF’s Global Competitiveness Report ranked Zimbabwe at 99 out of 104 countries surveyed. The report was released in Washington DC on Wednesday.
The WEF compiles annual competitiveness reports on trade and tariff issues and standards of living of citizens.
Finland was ranked the country with the most conducive trade regime in the world while the United States was second. Taiwan was on third position while Denmark was ranked fourth. Finland has been in pole position for the past four years.
Zimbabwe, Paraguay, Ethiopia, Bangladesh, Angola and Chad complete the bottom rankings of the 104 industrialised and emerging countries in the report.
The WEF’s GCI report makes judgments based on a country’s economy at the macro-level, the state of public institutions covering public sector corruption and judiciary independence and the country’s technological inventions, among others.
South Africa was the top country in Africa at 41 in the global rankings while Botswana was 45.
Zimbabwe has the lowest rankings among the 104 countries covered on inflation performance, credit ratings, soundness of the banking system, freedom of the press and the cost of its agricultural policies.
The Global Competitiveness Report is considered to be the most authoritative and up-to-date data on the performance of leading economies of the world.