Wednesday, September 9, 2009

Philippines fell from Rank 71 to 87 in the Global Competitiveness Index

The Philippines fell from rank 71 to 87 out of 133 economies listed in the Global Competitiveness Report . The Global Competitiveness Report is a yearly report published by the World Economic Forum. The report "assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity."

Let's hope that the upcoming elections would improve the country's economic standing.