YEREVAN, JULY 13, ARMENPRESS. The Government approved the 2017-2018 action plan on improving Armenia’s position in the Global Competitiveness Index (GCI), reports Armenpress.

Minister of Economic Development and Investments Suren Karayan said Armenia is ranked 79 in the list of 138 countries with 4.1 points in the 2016-2017 Global Competitiveness Index. Compared to last year it improved its position by 3 points. Among the list of the CIS countries (including Georgia) Armenia is ranked 6th.

“The GCI assesses the overall level of competitiveness of the countries and ranks them in comparable dimensions including the macroeconomic and microeconomic basis of the country’s development, the institutional and regulatory environments”, the Minister said.

 He said in order to form an action plan for improving the country’s position in the Index, the weakest sides of the state were revealed based on the last report. Directions having negative dynamics have also been identified regardless of the position at the moment. Based on the mentioned steps, 78 indicators have been received in terms of which Armenia is either ranked lower from half of the assessed countries or has not recorded progress in terms of position compared to the previous year. These indicators are grouped in 10 directions (institutions, infrastructures, healthcare, high education and training, effectiveness of commodity market, labor market, development of financial market, technological preparedness, business improvement, innovations).

“As for the weak sides revealed, respective measures and actions have been developed with the concerned agencies which aim at ensuring progress in the abovementioned directions. At the same time, already the ongoing and the systematic long-term reforms reflected in the Government’s action plan over macroeconomic stability, expansion of export markets, increase of effectiveness in the public administration system will contribute to improving Armenia’s position in the Index”, the Minister said.

The action plan includes 36 measures which will be implemented during 2017-2018. Based on the implementation results of this action plan and the assessments of the new Global Competitiveness Report, a new action plan will be formed.