Russia ranks 139th in Economic Freedom Index.

By bne IntelliNews January 11, 2013
In the latest Economic Freedom Index compiled by the Heritage Foundation and the Wall Street Journal Russia is ranked 139th out of 177 economies, scoring 51.1pts out of 100. Russia, which was 144th on the index last year gaining 0.6pts, still remains the second worst in Economic Freedom out of 43 European on the index. Despite rather stable growth based on oil and gas sales, foundations for long-term growth in Russia remain fragile, facilitated by an absence of effective judicial system, corruption tiring the business, and the state stepping up its presence in many of economy's segments. Authors of the index note that in the financial secotr state ownership is greater than private, domestic and foreign combined. In CIS, only Belarus (154th), Ukraine (161st), and Uzbekistan (162nd) scored worse than Russia on the index. To remind, Russia was ranked 112th out of 185 counties surveyed in World Bank's latest Doing Business survey, inching up 9 ranks from 120th position. The pace of the upgrade is perhaps too slow for the government's goal of hitting 50th place by 2015 and 20th by 2018, but EconMin is hopeful that there is a lot of space for fast improvement.
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