Nicaragua jumps 10 places in the Global Competitiveness Report

Nicaragua jumps 10 places in the Global Competitiveness Report

Nicaragua has ascended to 93 rank from last year’s 103 (position) on the Global Competitiveness Index (GCI). Among the Central American countries, Nicaragua recorded the highest growth by jumping 10 places on the index released by the World Economic Forum (WEF). Additionally, Nicaragua managed to position itself among the three Latin American countries that showed greater progress in their competitiveness.

One of the pillars on which the country obtained an excellent ranking was “Macroeconomic Environment,” where Nicaragua holds position 51 (out of 137), achieving a score of 5.1 on a scale of seven, maintaining a positive trend, according to the report. This score endorses the country’s excellent macroeconomic environment, which has been reaffirmed by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Monetary Fund (IMF), which projected a 4.7 and 4.5 growth rate for Nicaragua, respectively. It is worth noting that Nicaragua has maintained a growth rate of 5.2 percent in the last five years.

Another interesting fact revealed by the study, is the progress the country has made in the “Infrastructure” pillar, where Nicaragua occupies the 92nd position. Within this pillar is the Quality of Roads indicator, where the country ranks 52 (out of 137), outperforming its Central American peers: Costa Rica (123), Guatemala (106), Honduras (81) and El Salvador (72). This reflects the positive impact of the programs implemented by the Government of Nicaragua for the improvement of infrastructure.

Likewise, Nicaragua ranks among the countries with the highest rates of cooperation in labor-management relations in Central America, reflecting the union and efforts achieved through the model of dialogue and consensus established between the government, the private sector and workers.

In addition, the survey carried out during the collecting of information, “Executive Survey Opinion 2017,” showed that theft and crime have no impact in the way of doing business in the country. This ratifies Nicaragua as one of the safest countries in the Americas.

Pro Nicaragua, September 26, 2017

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