Russia climbs 5 places in world business competitiveness ranking

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September 27 , 2017 – Fort Russ News – 

KtovKurse – translated by Inessa Sinchougova

Russia continues to rise in the rating of competitiveness of the World Economic Forum (WEF) and this year moved from 43 to 38 place. In total, since 2012, the country has moved by 29 positions.

The main reason for the growth of the country’s competitiveness was the reduction of inflation and the growth of savings.

In addition, to the strengths of Russia, experts also ranked the size of the market, the development of infrastructure and the level of education of citizens.

As for the weak points, here the WEF noted corruption, current taxes, the situation with the independence of courts and protection of property rights.

Russia is now located between Poland (39) and Malta (37) and is ahead of such G20 countries as Argentina (92), Brazil (80), India (40), Italy (43), Mexico (51), Turkey (53) and South Africa (61). Thus, only China (27) outruns Russia from the BRICS countries.

In total, the list includes 137 states. The top three traditionally includ Switzerland, the United States and Singapore.

Following them are the Netherlands, Germany and Hong Kong, and then – Sweden, Great Britain, Japan and Finland.

The WEF makes a rating based on data of 12 measurements. According to one of the components of the rating – macroeconomic conjuncture – Russia rose by 38 positions and was on the 53rd line. On the infrastructure level, Russia was in the 35th place, on health and education – in the 54th.

According to the criterion of “financial market”, Russia was in the 107th place, by the criterion of property rights protection – in 106th, and in the sphere of courts independence –  90th.

The rating is compiled on the basis of open statistical data and the results of business surveys.

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