Kuwait - Mubasher: Kuwait has dropped three spots in the 2017 Agility Emerging Markets Logistics Index, which is closely watching the world’s 50 top emerging markets, according to a recent report.

After running its first budget deficit in 17 years, Kuwait fell to No. 26, despite the fact that its business conditions ranked 10th, an area of the index that was dominated by Gulf countries.

China and India topped the index ranking first and second respectively, and among Gulf countries, United Arab Emirates (3), Saudi Arabia (5), Qatar (12), Oman (13) and Bahrain (13) ranked highest. Bahrain climbed five spots in the latest Index and was among the countries showing the biggest gains, the report indicated.

Kuwait ranked 31st in logistics infrastructure and transport connections behind countries such as Peru, Kenya and Ukraine, it added.

“Kuwait has announced ambitious plans to stimulate private sector job creation, spur competition, attract foreign investment and use public-private partnerships to drive big development projects. Many of those plans remain in the early stages or have yet to produce results.”

Outside of the Gulf countries, Egypt (20) and Morocco (22) were the Arab countries ranking highest in the Index, followed by Algeria (31) and Jordan (33), who improved their rankings slightly in the latest Index.

Tunisia (42) slid five spots; Libya (46) and Lebanon (47) each fell three spots, the report noted.