Egypt falls 13 slots on Global Competitiveness Index

Egypt went down from number 81 last year to number 94 on the 2011 Global Competitiveness Index, which lists a total of 142 countries

The Global Competitiveness Report attributed the fall to an inefficient institutional structure, poor infrastructure and poor basic education in the country.

The report, which the Egyptian Center for Economic Studies published on Wednesday, said that nepotism has spread in Egypt, officials do not take transparent decisions, and the crime rate has risen.

Egypt’s position was affected by the rising unemployment and inflation rates, the unequal distribution of income and the increased budget deficit.

It was also affected by the evaluation of the labor and commodity markets, higher education, training, wages, working talent and labor unions.

Translated from the Arabic Edition

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