Russia climbs two places to 43rd in competitiveness ranking

Russia advanced two places to the 43rd place in the newly published Global Competitiveness Index of the World Economic forum. The largest improvement is seen in the areas of product and labour markets, macroeconomic stability and institutions, but in all those areas the ranking remains below the overall one. The weakest areas where no improvement is seen are related to health and the financial system. Russia get highest scores for market size, ICT adoption and, to a lesser extent, innovation capability. Russia is ranked second best in the BRICS group lagging after China (28th). Russia also occupies the top place in the region of CIS and Central Asia, ahead of Kazakhstan (59th) and it has managed to overtake six EU members.

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