"GCI ranking lower due to macroeconomic indicators"
<a href="http://www.b92.net/eng/news/business.php?yyyy=2013&mm=09&dd=04&nav_id=87555" class="text-link" target= "_blank">Serbia's drop on the World Economic Forum competitiveness list</a> from the 95th to the 101st place was brought about by poor macroeconomic indicators in 2012.
Thursday, 05.09.2013.
14:11
BELGRADE Serbia's drop on the World Economic Forum competitiveness list from the 95th to the 101st place was brought about by poor macroeconomic indicators in 2012. It was also the result of the state of infrastructure, associate of the Foundation for the Advancement of Economics Bojan Ristic has stated. "GCI ranking lower due to macroeconomic indicators" Serbia's drop was brought about by the poor macroeconomic environment in the previous year, characterized by a higher budget deficit, decrease in national savings and public debt increase, Ristic told Tanjug. As for infrastructure, the poor ranking was caused by the road and port infrastructure and a reduction of the number of subscribers of mobile and landline telephony, he said. Ristic said that the Global Competitiveness Index (GCI) is based on two kinds of data from the year before - solid data or numerically measurable units, and the survey in the local top management concerning their perception of various aspects of competitiveness. The constant pessimism of local businesspeople has been keeping Serbia rather low on the competitiveness list, Ristic said. He stated that the data according to which Serbia holds the lowest place among the regional countries should be interpreted cautiously, as certain countries may be unjustifiably optimistic while their real indicators are weaker than Serbia's. The WEF report for 2013 shows that Serbia ranks 101st on the global competitiveness list which covers 148 countries, and this constitutes a drop by six positions relative to the previous year, the Foundation for the Advancement of Economics on Wednesday. The most substantial drop was recorded in infrastructure, macroeconomic environment and financial market sophistication, while a moderate drop was recorded in the efficiency of the labour market and technological capacities. Tanjug
"GCI ranking lower due to macroeconomic indicators"
Serbia's drop was brought about by the poor macroeconomic environment in the previous year, characterized by a higher budget deficit, decrease in national savings and public debt increase, Ristić told Tanjug.As for infrastructure, the poor ranking was caused by the road and port infrastructure and a reduction of the number of subscribers of mobile and landline telephony, he said.
Ristić said that the Global Competitiveness Index (GCI) is based on two kinds of data from the year before - solid data or numerically measurable units, and the survey in the local top management concerning their perception of various aspects of competitiveness.
The constant pessimism of local businesspeople has been keeping Serbia rather low on the competitiveness list, Ristić said.
He stated that the data according to which Serbia holds the lowest place among the regional countries should be interpreted cautiously, as certain countries may be unjustifiably optimistic while their real indicators are weaker than Serbia's.
The WEF report for 2013 shows that Serbia ranks 101st on the global competitiveness list which covers 148 countries, and this constitutes a drop by six positions relative to the previous year, the Foundation for the Advancement of Economics on Wednesday.
The most substantial drop was recorded in infrastructure, macroeconomic environment and financial market sophistication, while a moderate drop was recorded in the efficiency of the labour market and technological capacities.
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