Armenia lags behind neighbors in terms of inclusive development: report

Armenia lags behind neighbors in terms of inclusive development: report

PanARMENIAN.Net - Armenia isn’t doing very well among 79 developing countries in terms of employment opportunities, pay, living standards and social inclusion, a new report by the World Economic Forum revealed recently.

The major new research entitled WEF Inclusive Growth and Development Report includes the Inclusive Development Index, which measures 109 countries for inclusive development. Out of these countries, 30 are considered "advanced economies" and 79 are labeled as “developing countries.” The results are based on 12 key performance indicators of inclusive development under three pillars: Growth and Development, Inclusion, and Intergenerational Equity and Sustainability.

Armenia was placed the 50th among the developing countries, well behind its neighbors, with Azerbaijan ranking 2nd, Turkey and Iran coming in the 20th and 21st, respectively, and Georgia following in the 31st position.

Based on GDP per capita, Armenia ranks the 40th among developing countries, again outperformed by Turkey (9th spot), Azerbaijan (24th), Iran (27th) and Georgia (34th).

Lithuania heads the list of 79 developing economies while Hungary has the third position.

Among the advanced countries, Norway is at the top, followed by Luxembourg (2nd), Switzerland (3rd), Iceland (4th) and Denmark (5th). Other nations in the top ten advanced economies are Sweden (6th), Netherlands (7th), Australia (8th), New Zealand (9th) and Austria (10th).

Oxfam defines inclusive development as a pro-poor approach that equally values and incorporates the contributions of all stakeholders - including marginalized groups - in addressing development issues.

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