WEF report: Saudi Arabia tops the region in economic stability

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Saudi Arabia topped the list of the region’s country as the most stable economy according to the World Economic Forum’s global competitiveness index for 2018.

Also the kingdom was ranked in position 39 on the list of 140 economies, showing progress, its best since 2012.

The kingdom advanced two ranks in the Global Competitiveness Index compared to last year report.

The report gives decision makers a full score of confidence in the stability of the Saudi economy and its ability to withstand external challenges and enhance sustainable growth opportunities.

Among the countries in the region, the Global Report for 2018 gave Saudi Arabia, the UAE and Kuwait a full score in the macroeconomic stability index by 100 percent.

The World Economic Forum’s Global Competitiveness Index 4.0 is a composite indicator that assesses the set of factors that determine an economy’s level of productivity- widely considered as the most important determinant of long-term growth.

The GCI 4.0 framework is built around 12 main drivers of productivity - Institutions, Infrastructure, Technological readiness, Macroeconomic context, Health, Education and skills, Product market,Labor market,Financial system, Market size, Business dynamism, and Innovation.

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