The World Economic Forum (WEF) declared China and Pakistan ahead of India among the developing economies. This report from the prestigious WEF was released on Monday. In the report by WEF, India was ranked 60th in the developing economies below neighboring Pakistan and China who were ranked 52nd and 15th respectively. The ranking comprised a total of 79 developing economies in the Inclusive Development Index according to the WEF report.
The Inclusive Growth and Development Report 2017 was released by WEF in Davos, Switzerland. It stated that most countries were missing on opportunities to raise economic growth and reduce inequality at the same time owing to obsolete growth models and measuring tools that policymakers use as a guide. The Inclusive Development Index is based on 12 performance indicators. Moreover, instead of basing economy on GDP alone, the index has three parts to it – Growth and Development, Inclusion, and Intergenerational Equity and Sustainability. GDP only accounts under the Growth and Development pillar of the indicators.
The list of 79 countries was topped by Baltic state Lithuania. It features Azerbaijan and East European Hungary at second and third positions, respectively. Two member nations from the BRIC organization, Russia and Brazil took the 13th and 30th position, respectively. Others in the top 10 include Poland at 4th, Romania at 5th, Uruguay at 6th, Latvia at 7th, Panama at 8th, Costa Rica at 9th, and Chile took the 10th spot.
WEF begins its five-day session today (Tuesday). Under discussion will be the economic issues faced by various countries around the world today. Pakistan’s delegation in the forum will be led by Mian Muhammad Nawaz Sharif, the Prime Minister of Pakistan. He has already reached the Swiss hill resort.
The complete report can be found here (for rankings, go to page 37 of the report). Norway took the first spot under the Advanced Economies section.You can follow us on Facebook, Twitter, or Google+ for more updates. Otherwise fill in the subscription box above, or subscribe to our RSS Feed.