Russia maintains its global competitiveness

Russia ranked 43rd in the World Economic Forum’s 2019 Global Competitiveness Index published earlier this week, on par with its 2018 ranking.

This year, WEF ranked 141 economies based on macroeconomic indicators, the quality of legal and judicial systems, the effectiveness of state regulation, labor force quality, innovation, and other parameters. In 2018, WEF adjusted its ranking methodology to increase the role of factors related to the business environment such as the quality of state regulation, independent courts, innovation, and financial stability.

Russia advanced from the 55th to the 43rd position in terms of macroeconomic stability, made significant progress in terms of the population’s digital skills and the availability of skilled workers, and somewhat improved its position on competition. Russia remained below the top 100 in terms of fighting corruption despite a modest improvement vs. 2018. Russia’s rankings deteriorated on government regulation, the efficiency of legal framework in settling disputes, intellectual property rights protection, and auditing and accounting standards.

Russia has advanced by 19 positions in the ranking since 2013.

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