Russia Maintains 43rd Position In World Economic Forum's 2019 Global Competitiveness Index

GENEVA (Pakistan Point News / Sputnik - 09th October, 2019) Russia has maintained its 43rd position in the newest Global Competitiveness Index, published by the World Economic Forum (WEF) on Wednesday.

The index measures countries' readiness for the fourth industrial revolution. It is composed of 12 indicators: quality of institutions; infrastructure; entry of IT and modern communications; macroeconomic stability; product market; labor market; financial system; domestic market size; health; education; business dynamism and innovation capability.

Singapore, which turned out to be ahead of other states in many areas, was ranked first. The United States was rated as the second best, while Hong Kong became third. The Netherlands and Switzerland completed the top five.

Russia remained on the 43rd place, although the overall score of its main parameters has slightly improved, growing from 65.6 in 2018 to 66.7 this year. In particular, the security situation in Russia, as well as levels of transport and infrastructure development have improved, while macroeconomic stability has increased.

The World Economic Forum in Davos is an international organization for the development of public-private cooperation. The last forum was held in the Swiss city of Davos from January 22-25.