Commenting on the World Bank’s latest Human Capital Index (HCI) rankings, Finance Minister Sinisa Mali said Serbia ranked higher than any country in the region, as well as higher than many developed countries.
“Serbia ranks 27th of the 157 countries in the World Bank list, and also higher than many economically developed countries, such as China, Russia, Spain… Interestingly, we are just one position below Belgium and a few positions below the US, the world’s most developed countries,” he said.
“It’s interesting to note that we are just one place behind Belgium and a couple of places behind the United States, which are the most developed countries in the world. This is another validation of the good economic results we have achieved in the previous period and the incentive to progress even more,” Mali said.
He underlined that these results show that young people have a future in Serbia and that the state can help them develop the full capacity of their potential.
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“Healthcare and education are the most important in this context. We are about to find out how our country ranks in these two segments. But, we are on the right track and we should continue investing in these sectors in order to further develop human capacities and stimulate economic growth. We must not allow young people to leave the country and therefore we have a responsibility to provide them with good living conditions,” the Minister of Finance said.
The World Bank has measured the HCI index for 157 countries in order to assess the contribution of human capital to the productivity of the next generation of workers.
The HCI Index consists of five indicators: the probability reaching five years of age, the expected number of years of schooling, harmonized test results as a measure of the quality of learning, the percentage of 15-year-olds who will live up to the age of 60 and the share of children that are developing normally.
According to the human capital index, 99 out of 100 children born in Serbia will live up to their 5th birthday and it is expected that a child who goes to preschool for four years will complete 13.4 years of schooling by the age of 18. The baby born today in Serbia will reach 76 per cent of its full potential by the age of 18.
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