Russia is on the 50th place in the global ranking of competitiveness, according to a study by the International Institute for management development (IMD).
During the year, the performance deteriorated. The country has fallen five places, in 2019 Russia took the 45th place. Finland was 13th place (plus two positions per year), Estonia on 28-th position (plus seven), 31st place went to Lithuania (minus two points). Latvia was on the 41st position (minus one), followed by Kazakhstan (lost eight points on the year). It was also named Ukraine’s place in the rankings. It occupied 55-e a place (in 2019 was the 54th).
the First ten places of the ranking of the best economies ranked Singapore, Denmark, Switzerland, the Netherlands, Hong Kong, Sweden, Norway, Canada, UAE, USA and Taiwan. The worst performance was demonstrated by Mongolia, Argentina and Venezuela (from 61 th to 63-th place respectively).
All the ratings of the IMD estimates 63 countries at many factors, such as employment, cost of living, government spending, political stability, protection of intellectual property rights and others.
Russia in June, entered the top five countries with the most favourable economic preconditions for recovery after a pandemic coronavirus. The Institute for Economics and peace (IEP) also predicted growth in Indonesia, China, Mexico and Australia.
