AKIPRESS.COM - The Global Competitiveness Index for 2016-2017 published by the World Economic Forum has ranked Mongolia the 102nd among the total of 138 states.

This year, Mongolia made no progress, getting 3.8 out of 7 points. Last year, the country got 3.8 too but was ranked the 104th out of 140 countries.

At the same time, Mongolia showed progress in macroeconomic stability, financial market development, technological readiness, higher education and training.

Increase in the number of cell phone users, Internet speed and number of Internet users affected the technological readiness progress. Decrease of the inflation rate to 5.9 percent, meanwhile, positively affected the macroeconomic stability.

Business sophistication, goods market efficiency, labor market efficiency and institutions worsened for a year.

Mongolia has been still listed among the top 50 countries with flexibility of wage determination (ranks the 4th); strength of investor protection (8); Internet speed (17); hiring and firing practices (19); total tax rate (23); Internet users (32); quantity of education (38); quality of math and science education (40); number of procedures required to start a business (41); availability of scientist and engineers (47).