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NS4453 Spring Term 2017 WEF Country Stages/Rankings

NS4453 Spring Term 2017 WEF Country Stages/Rankings. WEF 2016/17 Rankings. Global Competitiveness Index Framework. WEF Stage Placement. WEF Stage Placement: MENA. Rankings MENA Countries. MENA Assessment I.

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NS4453 Spring Term 2017 WEF Country Stages/Rankings

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  1. NS4453 Spring Term 2017WEF Country Stages/Rankings

  2. WEF 2016/17 Rankings

  3. Global Competitiveness Index Framework

  4. WEF Stage Placement

  5. WEF Stage Placement: MENA

  6. Rankings MENA Countries

  7. MENA Assessment I • MENA region countries continue to experience significant instability from spillover effects from conflicts in • Libya • Syria and • Yemen • These conflicts are undermining economic progress in entire region • Instability also being created by uncertain future energy prices • Oil exporting countries are experiencing • Lower growth • Higher fiscal deficits and • Rising concerns about unemployment

  8. MENA Assessment 2016-17 I • Growth in GCC countries averaged 5.2% between 2000 and 2012 but averaged 2.5% for 2015 and 2016 • Rising oil supplies are expected to keep prices low and limit growth expectations in the coming years • Although region’s oil exporting countries are diverse in terms of their competitiveness two commonalities • First – despite recent privatization efforts, most national economies remain • state dominated and • not sufficiently diversified

  9. MENA Assessment 2016-17 II • State’s state in state-owned enterprises • Saudi Arabia 19.8% GDP • UAE 21.8% • Qatar 23.1% • Oil sector remains predominant in many countries with oil GDP share of total GDP ranging from • 19.5% Yemen to • 62.9% Kuwait

  10. MENA Assessment 2016-17 III • Competition remains constrained throughout the region: • Level of domestic competition and openness to foreign trade and investment remains below OECD levels for most countries • Efficiency and productivity could be improved by continued privatization • Reducing regulatory barriers to entry for domestic companies and • Making business environments more welcoming for foreign directors and investment and more conducive to the growth of small and medium-sized enterprises

  11. MENA Assessment 2016-17 IV • Second as rapid global technological change gathers pace, putting in place • Innovation • Technological readiness and • Health and primary education • Will be increasingly important • Oil-exporting countries in the MENA region have room for improvement in these areas • Should go hand in hand with the diversification away from the energy sector.

  12. MENA Assessment 2016-17 V • The most competitive economy in this group, the UAE, is also the most diversified and has made great strides toward improving since 2011 • Technological readiness 30th to 18th • Innovation 28th to 25th • Growth in the oil importing economies has also slowed down from 5.4% between 2000 to 2012 to 1.9% in 2015 • Often a result of spillover effects from reginal conflict

  13. MENA Assessment 2016-17 VI • Key priorities for these countries continue to be • Fostering employment and • Making economies more inclusive • To meet population’s demands for higher living standards and economic opportunities • This will require reforms that aim to strengthen the private sector • Promoting competition • Reducing red tape and • Making labor market more flexible

  14. MENA Assessment 2016-17 VII • Drop in oil prices creates a window of opportunity to tackle long-standing energy subsidies which would • Allow for more competitiveness enhancing investments and • Help to stabilize the macroeconomic environment which remains strained in most countries

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