DUSHANBE, September 15, 2014, Asia-Plus — The Global Competitiveness Report 2014 – 2014 (GCR 2014-2015), which was recently released by the World Economic Forum (WEF), ranks Tajikistan 33rd among 144 economies in terms of the public debt-to-GDP ratio.
According to the WEF, Tajikistan’s current public debt-to-GDP ratio is 29.2 percent.
Kazakhstan with its public debt-to-GDP ratio amounting to 13.5 percent is ranked 11th. It is followed by Azerbaijan (13.8 percent).
Kyrgyzstan with its public debt-to-GDP ratio amounting to 47.7 percent is ranked 82nd.
Russia’s current public debt-to-GDP ratio is reportedly 13.4 percent and it is ranked 10th.
Libya, which has no public debt, leads the ranking in term of the public debt-to-GDP ratio. It is followed by Saudi Arabia — 2.7 percent, Kuwait – 5.3 percent, Oman – 7.0 percent, Algeria – 9.2 percent, Iran – 10.6 percent, Estonia – 11.3 percent, Chile – 12.2 percent, and the United Arab Emirates (UAE) – 12.3 percent.
Lebanon (139.7 percent), Greece (173.8 percent), and Japan (243.2 percent) are at the bottom of the list.
In economics, the debt-to-GDP ratio is the ratio between a country”s government debt and its gross domestic product (GDP). A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations – including interest rates, war, recessions, and other variables – influence the borrowing practices of a nation and the choice to incur further debt.
The Global Competitiveness Report 2014 – 2015 assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide.
The Global Competitiveness Report (GCR) is an yearly report published by the World Economic Forum. Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi. Before that, the macroeconomic ranks were based on Jeffrey Sachs”s Growth Development Index and the microeconomic ranks were based on Michael Porter”s Business Competitiveness Index. The Global Competitiveness Index integrates the macroeconomic and the micro/business aspects of competitiveness into a single index.
The report assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity. Since 2010, Switzerland has led the ranking as the most competitive economy in the world.
This year’s Report provides an overview of the competitiveness performance of 144 economies, and thus continues to be the most comprehensive assessment of its kind globally. It contains a detailed profile for each of the economies included in the study, as well as an extensive section of data tables with global rankings covering over 100 indicators. This Report is one of the flagship publications within the Forum’s Global Competitiveness and Benchmarking Network, which produces a number of related research studies aimed at supporting countries in their transformation efforts and raising awareness about the need to adopt holistic and integrated frameworks for understanding complex phenomena such as competitiveness or global risks.
