Turkey's competitive power jumps

Turkey was ranked the world's 43rd most competitive economy in the World Economic Forum's (WEF) latest global competitiveness report, moving up 16 spots in a year. "That's magnificent progress. Very few economies around the world are able to do that," Economy Minister Zafer Caglayan said in a statement issued by his office shortly after the report was released yesterday, hailing the result. Turkey ranked 59 in the WEF's The Global Competitiveness Report a year earlier. "This is an impressive jump," the minister said. "Only a few countries may achieve such a success." Kazakhstan was the only country in the list to perform better than Turkey this year compared to a year earlier The WEF's list is made up of over 110 variables, of which two thirds come from the Executive Opinion Survey, and one third comes from publicly available sources.