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World Economic Forum has compiled its Global Competitiveness Ranking ranking Kazakhstan 50th out of 144 countries, Tengrinews reports.
World Economic Forum has compiled its Global Competitiveness Ranking ranking Kazakhstan 50th out of 144 countries, Tengrinews reports.
Kazakhstan is also ranked 50th in the Government Efficiency Index. The efficiency index considers expenditures, workload regulations and political transparency.
The Government Efficiency Index is led by Qatar that is followed by Singapore and Finland. The outsiders of the list are Argentina, Italy and Venezuela that landed on the last lines of the ranking.
Kazakhstan beats of a number of European countries in government efficiency, according to the list. In particular, Kazakhstan is ahead of Belgium, France, the Check Republic, Hungary, Spain, Portugal, Bulgaria, Slovenia, Serbia and Romania. South Korea, Israel and India were, too, beaten by Kazakhstan in the ranking. Russia, Armenia, Latvia, Moldova, Ukraine, Lithuania and Kyrgyzstan are also ranked below the 50th place.
According to the authors of the rating, efficient work of the government is important for the country's competitiveness and its economic growth.
"The role of institutions goes beyond the legal framework. Government attitudes toward markets and freedoms and the efficiency of its operations are also very important: excessive bureaucracy and red tape, overregulation, corruption, dishonesty in dealing with public contracts, lack of transparency and trustworthiness, inability to provide appropriate services for the business sector, and political dependence of the judicial system impose significant economic costs to businesses and slow the process of economic development," the ranking methodology said.
The complete Global Competitiveness Ranking is available here.
Writing by Gyuzel Kamalova, editing by Tatyana Kuzmina
