Ukraine and Georgia are among the leaders of their respective income group in the UN's Global Innovation Index 2019 that was released on July 24.

In the report, the UN's intellectual property agency says Ukraine and Georgia "performed above expectations" for their level of economic development, RFE/RL wrote.

Ukraine ranked second and Georgia ranked third for economic innovation in the lower-middle income bracket.

Georgia was among those mentioned whose economy outperforms in innovation relative to its gross domestic product, "catching up with innovation leaders more quickly" than its peers.

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Bulgaria placed third in the upper-middle income bracket among 34 countries for innovation.

Bulgaria ranked 27th in Europe, whereas Ukraine ranked 32nd.

Georgia was fourth in the North Africa and Western Asia region.

Globally, Switzerland ranked first, followed by Sweden, the United States, the Netherlands, and Britain.

As UNIAN reported earlier, Ukrainian hryvnia, the national currency, is one of the world's most undervalued currencies, that's according to the so-called Big Mac Index.