CORRECTION: Namibia failing to reform: BoN

18 Sep 2013 11:20
CORRECTION: REPLACING 2012/13 WITH 2013/14 IN INTRO.
WINDHOEK, 18 SEP (NAMPA) - Namibia is not getting notably worse in terms of its score on the Global Competitiveness Report 2013/14, but the country is failing to reform at the same pace as many other economies.
This was the view of Bank of Namibia economist Roland Brown on Wednesday during a media conference here.
Namibia maintained her score of 3,9 out of seven in that report, but improved her ranking by two places to rank 90th out of 148th countries.
However, in terms of rankings, Namibia improved from 89th in 2007/08 to 74th in 2009/10, before deteriorating again to 90th in 2012/13.
“As competitiveness is a relative concept, this is a cause for concern. Namibia remains well-placed, but if reform does not start to occur more rapidly, the country risks being left behind by her peers,” warned Brown.
He said maintaining and improving competitiveness as a country is critical to drive and develop the country's economy, and improve the livelihoods of the people.
“While the Global Competitiveness Report (GCR) has many flaws, most notably that it is perception-driven, it shows the same trends as most other indicators of competitiveness for Namibia,” stressed Brown.
Overall, for a number of years, competitiveness has remained largely unchanged in terms of score in Namibia.
“This suggests that while Namibia is not getting notably worse in terms of score, it is failing to reform at the same pace as many other economies,” said the economist.
(NAMPA)
MMT/ND/TK