2024-02-09 09:28:02
According to the qualitative growth indicators proposed by the 2024 report of the “World Economic Forum” on the future of growth, Tunisia displays mixed results. It still has work to do to achieve inclusive, sustainable and resilient growth.
The acceleration of technological growth, the persistence and worsening of social disparities, the accentuation of geopolitical tensions which have induced more economic uncertainties which prevail today throughout the world as well as pressing environmental issues constitute new economic and social realities which have blurred the lines and made the usual measures of growth obsolete. Economists are now focusing on what they call qualitative growth focused on environmental and social objectives. Thus, in order to stimulate reflection on new methods of measuring growth going beyond its simple quantification by calculating GDP, the “World Economic Forum” has just published the 1time edition of the report on the future of growth. This report examines the “underlying nature and quality of growth” in different countries based on four main areas: innovation, inclusion, sustainability and resilience. These criteria appear to be more adapted to the volatility of the current international situation and also reflect the desired sustainability and economic and social equity. The report is based on a perception survey carried out in September 2023, identically in 107 economies.
At the aggregate level, the results revealed that the economies of the various countries performed best in terms of inclusiveness (the ability of economies to integrate all stakeholders in the services and opportunities created) and resilience (the ability of economies to withstand and recover from shocks). The average scores achieved are respectively around 55.9 out of 100 for inclusiveness and 52.8 for resilience. However, the report highlights that several countries continue to grow in a way that is not sustainable or inclusive, due to difficulties in adopting innovation to reduce their vulnerability to global shocks. Indeed, when it comes to innovation, most countries fare poorly with a low average score of 47.5 out of 100.
Tunisia’s results
In Tunisia, the survey was carried out by Iace, official partner of the “World Economic Forum”. The results are generally encouraging. They show that the GDP/inhabitant ratio has evolved timidly between 2018 and 2023, nevertheless the scores obtained exceed the average of low and middle income countries for the 4 growth indicators. Thus, in terms of innovation, Tunisia displays a score of 38.5 out of 100, a result which, even if it is relatively low, is above the average (34.9) for this category of countries. . According to the figures revealed by the survey, the Tunisian economy is relatively inclusive in comparison with similar economies (a score of 53.6), while in terms of sustainable growth, it can do better. For the resilience indicator, it obtained a score of 49.5 out of 100, surpassing the average of 45.8 for developing countries).
Still work to do
The report concludes that economic growth is necessary, but not sufficient to improve the quality of life of citizens. He affirms, in this sense, that attention must also be paid to other qualitative indicators which are linked to technological progress, the equitable distribution of resources, respect for the environment as well as resistance during periods of crises. Furthermore, the report indicates that developed and developing countries still have work to do to achieve sustainable and inclusive growth with resilience and driven by innovation. It reveals the significant gap in terms of innovation, but also in terms of digitalization between developed and less developed countries. In developing countries, increasing inequalities in income, available opportunities, access to the most basic services, as well as the failure of social protection constitute the main obstacles that arise in the face of to the inclusiveness of the economy. Finally, green finance and technologies provide an effective means to achieve sustainability.
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