Armenia holds the 97th position out of 134 in the Global Competitiveness Report 2008-2009 published by the World Economic Forum, Wednesday. Armenia has dropped by 4 positions as compared with the previous ranking. The United States tops the overall ranking. Switzerland is in the second position followed by Denmark and Sweden. Azerbaijan holds the 69th position, and Georgia - the 90th position. According to the ranking, the main obstacles for Armenia's economy are corruption, low level of tax administration, regulation of exchange rates and unsatisfactory work of the state machine.
