Peru Improves Ranking In Global Competitiveness Report

Peru has jumped six positions in its competitiveness rating, according to the World Economic Forum’s 2012 Global Economic Report.

Peru improved its ranking to 61 of 144 countries, from a previous ranking of 67th, according to the report.

Other countries in Latin America that improved their position are Panama, which rose 9 places, as well as Brazil and Mexico, which improved five points each. Colombia, Chile and Argentina all declined in their positions.

The improvement in Peru’s ranking is thanks to its stable and sustainable policies, state news agency Andina reported.

The improvement also takes into account better human development, including the reduction of infant mortality rates, and improved education.

World Economic Forum representative Benat Bilbao said  Peru has significantly improved its competitiveness over the past six years as efficiency in the country has increased, and thanks to macroeconomic stability.

The World Economic Forum said that for Peru to continue improving it needs innovation and improved infrastructure, among other aspects.

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