22 February 2011
BEIRUT: Global investment bank Goldman Sachs ranked Lebanon 134th among 182 nations globally on its Growth Environment Scores index for 2010, up from 142nd place in 2009 but down from 85th place in 1997, reported Lebanon This Week, the economic publication of the Byblos Bank Group.
Goldman Sachs also ranked Lebanon 97th among developing nations, up from 104th place in the previous survey but down from 46th place in 1997.
Lebanon also came in 18th among 23 countries in the Middle East and North Africa region, unchanged from the previous year and down from ninth place in 1997. Additionally, Lebanon came in last place among 43 Upper Middle Income Countries included in the survey, unchanged from 2009 but down from 22nd place in 1997.
The GES is a composite measure of economic growth conditions in 182 countries that summarizes the overall growth environment and that ranks countries according to their ability to achieve their growth potential.
The GES consists of 13 indicators grouped in five broad categories of growth criteria. The categories are: macroeconomic stability that covers inflation, government deficit and external debt as a percentage of gross domestic product; macroeconomic conditions such as investment rates and openness of the economy; human capital, including life expectancy and the level of education; technological capabilities such as penetration of personal computers, phones and the Internet; and political conditions as reflected by political stability, the rule of law and corruption.
Globally, Lebanon ranked ahead of Mauritania, Laos and Papua New Guinea and came behind Ghana, Egypt and Lesotho. It also ranked ahead of Belarus, Lithuania and South Africa and behind Namibia, Uruguay and Samoa among UMICs.
Lebanon got a score of 4.1 points, up from 3.69 points in the previous year but down from 3.95 points in 1997. Lebanon’s score was less than the global average score of 5.25 points, the UMICs’ mean of 5.55 points, the developing economies’ mean of 4.75 points, the MENA average score of 5.2 points and the Arab mean score of 5.2 points.
The scores of 19 countries in the region improved year-on-year and four declined, while the ranks of nine countries improved and 14 declined. Singapore posted the highest score in the world and Bahrain had the best score across developing economies. – The Daily Star
Copyright The Daily Star 2011.
