SUBSCRIPTION THURSDAY, SEPTEMBER 4, 2014 THULQADA 9, 1435 AH www.kuwaittimes.net UN’s OCHA Argentina beat marks World Germany 4-2 Humanitarian in World Cup Day in 2Kuwait final20 rematch Kuwait drops 4 spots in Max 48º Min 27º global competitiveness High Tide 05:14 & 20:23 State ranks lowest in FDA, IT, highest in controlling inflation, HIV Low Tide 13:14 40 PAGES NO: 16275 150 FILS By Sara Ahmed conspiracy theories KUWAIT: Kuwait dropped four spots on the World Congratulations Economic Forum’s Global Competitiveness Ranking for 2014-2015. Falling from 36 to 40 this year, Kuwait’s eval- to the nation uation highlighted problems with inefficient govern- ment bureaucracy, restrictive labor regulations, corrup- tion, access to financing and policy instability as among the top issues inhibiting the state’s global economic competitiveness. Kuwait recorded among the worst rankings in the By Badrya Darwish Gulf Cooperation Council (GCC) states, falling far below the UAE (ranked 12), Qatar (16) and Saudi Arabia (24). It is listed as a transition economy. Other economies in transition on the global list include the Philippines (52), Algeria (79), Iran (83), Mongolia (98) and Bhutan (103).
[email protected] The annual report evaluates nations using more than 100 indicators of competitiveness based on 12 pillars including institutions, infrastructure, macroeconomic osh, guys! I’m so overwhelmed and thrilled by environment, health and primary education, higher edu- the ranking of my country in the World cation and training, goods market efficiency, labor mar- GEconomic Forum’s Global Competiveness Report ket efficiency, financial market development, technolog- 2014.