Russia moved up two places to 43rd out of 138 countries in the Global Competitiveness Report 2016-2017 published Wednesday.
"Russia has become more stable compared with 2015. However, there is a dramatic fall in its macroeconomic environment, and inflation remains one of the main obstacles to doing business in Russia," said the authors of the report, which is published annually by the Switzerland-based World Economic Forum.
The effectiveness of Russia's internal market has improved, which is supported by the reforms of the Russian legislation, said the report.
It also noted that the Russian financial sector continues to suffer due to low capital inflows. The report assesses the ability of countries to provide high levels of prosperity to their citizens. It gave the first place to Switzerland, the second to Singapore, and the third to the United States.
Latest comments