Experts: Russias investment attractiveness declines in 2012.

By bne IntelliNews November 1, 2012
Russias investment attractiveness falls, specialists for the Center for Development of the National Research University of the Higher School of Economics said. Although the government is boasting its success of improving Russia's investment attractiveness, the economy continues to stagnate due to lack of investment, they added. The Global Competitiveness Index calculated by the World Economic Forum (WEF) showed that Russia's labor market and innovative efficiency sharply declined in 2012. WEF experts said that corruption, bureaucratic red tape, and difficulties in getting credit still hindered Russia's investment attractiveness. In addition, Macroeconomic Research Director Sergei Alexashenko believes that the net capital outflow amounted to over USD 90bn in the last 12 months and will not slow in the future, adding that the declining investment is the key factor in the slowdown of the gross domestic product (GDP) growth.

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