Russia was ranked 67th in terms of competitiveness in the world, down one place from 2011, he World Economic Forum said in its annual survey Wednesday.
According to the survey, a sharp improvement in Russia's macroeconomic environment was offset by weak public institutions, which were ranked the 11th worst.
On several scores, the country was ranked among the 10 lowest achievers globally, including its low rates of technological adoption, lack of trust in its financial system, weak level of competition and inefficient markets for goods.
Switzerland ranked as the world's most competitive economy for the fourth year running, while the United States fell from fifth spot to seventh because of political and economic problems that detracted from its status as a global powerhouse of innovation, the study said.
(Reuters)
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
![paiment methods](https://static.themoscowtimes.com/img/contribute/payment_icons.png)
Remind me later.