Armenia has yielded its position by 6 points and ranks the 85th among 144 countries in the Global Competitiveness Report 2014-2015. Armenia came in the 79th place among 148 countries in Global Competitiveness Report 2013-2014.

Founding Chairman of Economy and Values Research Center, which is the Armenian partner of World Economic Forum’s Global Competitiveness Report network, Manuk Hergnyan stated it today.

According to the report, Armenia has improved its ranking by 2 points in the indicator of infrastructures and higher education and by 1 point – in technological preparedness. At the same time, other indicators have deteriorated. In particular, Armenia has registered 24-point regress in the efficiency of labor market and 21-point regress in financial market development.

Among CIS states (including Georgia), Kyrgyzstan has registered significant progress advancing by 13 points, Russia - by 11 points and Ukraine – by 8 points. Azerbaijan advanced by 1 point – it comes in the 38th place instead of the 39th position in 2013.