Yerevan/Mediamax/.  Armenian has improved its position  in the Global Competitiveness Report  ranking the 92nd among 142 countries.

As compared to 2010-2011 report, the total assessment of Armenia’s competitiveness grew by 4%.

Presenting the report today, the head of “Economy and Values” research center and EV Consulting companies Manuk Hergnyan said that competitiveness has grown in Armenia reflecting the cultural changes taking place in the economy, Mediamax reports.

Manuk Hergnyan said that 2011 became the first year when the indices of competitiveness and economic growth changed in one area which may indicate shifting to more balanced economic model.. It’s opposed to the economic picture of 2005-2008 when the economy grew at 2-digit rates against the background of decline in competitiveness.

Azerbaijan (from the 57th to 55th position) and Georgia (from the 90th to 88th) also registered competitiveness growth.

According to the report, prevalence of low-productive spheres in the GDP is one of the fundamental shortcomings of Armenia’s economy. “3 more productive spheres- finance, mining industry and construction – ensure only 9 % of the overall employment whereas more than the half of the work force is focused in the spheres of the lowest productivity”, said Manuk Hergnyan.

The research conducted by “Economy and Values” center in 50 production enterprises showed that the management level in Armenian companies is substantially lower than that of the enterprises operating in developed countries.

The report is available on the website of “Economy and Values” research center.