Compared to the previous year, Georgia’s position worsened significantly, in particular, it fell by 25 slots.
Under the World Economic Forum’s Financial Stability index, Georgia holds the 88th place in the world. Compared to the previous year, Georgia’s position worsened significantly, in particular, it fell by 25 slots. The index is made up of 8 criteria.
One of the indicators measures funding small and medium businesses. Based on this criterion, Georgia with its score came in 69th place out of surveyed 140 counties. Under the capital criterion, Venezuela came in 99th place when last year it was in fourth place.
According to the market capitalization criterion, Georgia stands in 121st place. Within the Insurance premiums category, Georgia holds one of the lowest positions in 122nd place. The country is in 56th place within the inactive debt category, which measures the share of these loans hold in the overall loan portfolio.
This year’s ratings were carried out with a new methodology by the world economic forum. For example, in this year’s assessment, the category for access to financial services was not included, in which last year Georgia held 9th place. In this year’s assessment, access to credit criterion was also dropped, based on which last year, Georgia held 46th place.
WEF notes that the financial system remains one of the weakest parts for a number of countries across the world. Finland, Hong Kong, Switzerland, Luxenberg, and Norway have the strongest financial sectors in the world, repeatedly scoring 9 or above.
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