Azerbaijan, Baku, September 8 / Trend , N.Ismaylova /
Azerbaijan moves up an impressive 18 places to rank 51st this year, with measurable improvements across many aspects of the Index, said in the Global Competitiveness Report 2009-2010 disclosed by World Economic Forum (WEF).
The country is characterized by strong and improving macroeconomic stability, moving up 18 spots to 27th place this year, with high national savings, a large budget surplus, and low and shrinking government debt, although high inflation does raise some concerns.
There have also been measurable improvements in the efficiency of the country's markets, especially labor and goods markets. Labor markets are ranked a high 13th (up from 34th last year), characterized by high and improving flexibility (for example, the country improved from 70th to 4th position in the rigidity of employment index).
Within goods markets (up 18 places, from 89th to 71st), it has become much easier and less
expensive to start a business: the number of procedures required more than halved from 13 to 6, and the time required has been reduced from 30 to 16 days.
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