Uganda has once again been ranked among the least competitive economies by the World Economic Forum in the 2018 Global Competitiveness report
Kenya was ranked in the region as the most competitive economy among followed by Rwanda and Tanzania. Uganda came in 4th while Burundi trailed.
South Sudan which has been affected by conflicts throughout the year was not ranked.
Globally, Uganda came in 117th position out of the 140 countries that were ranked. Kenya came in 93rd, Rwanda 108th, Tanzania 116th and Burundi 136th.
Compared to last year’s ranking, Uganda has slipped from the 114th position in 2017 and 113th in 2016.
The United States after a long while bounced back into first position and was followed by Singapore, Germany, Switzerland and Spain.
On the African Continent, Mauritius came first at position number 49, globally, South Africa was ranked 67th, Botswana 90th while Nigeria came in on 115th position.
The global competitive index, published by World Economic Forum in Geneva assesses the Microeconomic and macroeconomic foundations of the national competitiveness as defined by institutional policies.
“Productivity is the single most important drive for growth. In 2018, the fourth industrial revolution in full swing has made countries rethink definition of competitiveness and that of long term growth” noted Thierry Geiger, the head research and regional impact, future of economic progress at World Economic Forum after the release of the report