Rwanda above Kenya as most competitive economy
04 September 2014, 17:15
Nairobi - Rwanda retains its position as the most competitive
economy in the East African region and third in Africa, according to a
new Global Competitiveness Index report.
The small East African country takes the third position on the
continent after Mauritius and South Africa in this year's World Economic
Forum (WEF) annual report released on Wednesday in Geneva.
Rwanda ranks 62nd out of the 144 countries surveyed worldwide, up
from 66th last year, while Mauritius and South Africa came in 39th and
South Africa 56th globally respectively.
Speaking to Xinhua on Wednesday, Claver Gatete, Rwanda Minister of
Finance and Economic Planning said that, Rwanda deserved the position
because the country has maintained its impressive growth rate.
"Our aim is to rank on top position and accelerate our country' s
growth. We are not resting; we are aiming higher for better and
sustainable results that will benefit each and every Rwandan citizen,"
According to the survey, in East African Community, Kenya came second
with an overall aggregate of 3.9 and was ranked 90th worldwide.
Tanzania, Uganda and Burundi came in 121st, 122nd and 139th,
respectively, on the global scale.
Also read: Poor quality affects Kenya's agricultural exports
The WEF Report 2014 says Switzerland comes first in the World
followed by Singapore and the United States. Finland and Germany both
fell one notch, to the 4th and 5th.
On average, Rwanda's macroeconomic environment scored 4.6 aggregates
out of a possible seven, while health and primary education registered
However, the country underperformed in infrastructure aggregating
3.1, ranking 105th out of 144 countries on that indicator.The Global
Competitiveness survey assesses the competitiveness of landscape of 144
economies, providing insight into the drivers of their productivity and
For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!