The World Economic Forum's annual
Global Competitiveness Report ranks the USA 96 out of 140 countries in terms of debt and savings i.e. 'macroeconomic environment'.
Britain ranks 108th out of 140 countries in terms of 'macroeconomic environment', worse than Haiti and Zimbabwe.
'Macroeconomic environment'
refers to
the government deficit, public debt, savings and the strength of the financial system.
Countries ranked even worse than Britain for
macroeconomic environment included Spain, Greece, Mozambique and Sri Lanka, with Malawi at the bottom of the list.
To view all the data click here
According to the World economic Forum, the USA should "improve the quality of education (18th), in particular at the primary level, and continuing to stabilize its macroeconomic environment (96th), which must include addressing high health and social security costs and ensuring continued strengthening of the financial system."
According to the World economic Forum, "Britain will have to continue efforts to improve its macroeconomic environment (108th); the government deficit is still very high (5.7 percent of GDP, ranked 118th) and its public debt has doubled since 2007, now accounting for almost 90 percent of GDP (123nd)."
Labels: debt, economy, Global Competitive Index, savings, UK, USA, World Economic Forum