Brazil Slightly Lower in the Latest Global Competitiveness Report
The World Economic Forum’s Global Competitiveness Report 2014 – 2015 has ranked Brazil one position lower at #57 (between South Africa and Cyprus) and its worth mentioning the other BRICS countries ranked as follows: China (28th), Russia (53rd), South Africa (56th) and India (71st). Here is what the latest report had to say about Brazil’s ranking:
Brazil drops one position and ranks 57th this year. This decline is driven by insufficient progress in addressing its persistent transport infrastructure weaknesses (77th) and a perceived deterioration in the functioning of its institutions (104th), with increased concerns about government efficiency (131st) and corruption (130th). Brazil also exhibits a weaker macroeconomic performance this year (85th), a further tightening of access to financing, and a poor education system (126th) that fails to provide workers with the necessary set of skills for an economy in transition toward more knowledge-based activities. Addressing these weaknesses, for Brazil as for other BRICS economies, will require implementing reforms and engaging in productive investments (see Box3). This approach is not only important but has become urgent for reinforcing Brazil’s resilience. The country is poised to face strong headwinds related to recent shifts in the global economy, with a drop in the international price of commodities and potential outflows of capital that had come into the country from some advanced economies during the height of the financial crisis. Not withstanding these challenges, Brazil still benefits from important strengths, especially its large market size and its fairly sophisticated business community (47th), with pockets of innovation excellence (44th) in many research-driven,high-value-added activities.
The Global Competitiveness Report 2014 – 2015 report can be downloaded on the World Economic Forum’s website.
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