MOSCOW, May 30 (RIA Novosti) – Russia has climbed six positions to 42nd place in the 2013 World Competitiveness Rankings published by the Institute of Management Development (IMD) on Thursday.
The IMD World Competitiveness Yearbook published annually by the IMD, a top-ranked global business school based in Switzerland, covers 60 countries and compares their competitiveness based on such key parameters as economic performance, government efficiency, business efficiency and infrastructure.
Russia, which now stands between Latvia (41st) and Peru (43rd), has improved its standings through better macroeconomic indicators, including state finances and employment, Russian business daily Kommersant reported on Thursday.
Russia’s ratings for such parameters as the quality of institutions and business regulation did not show any improvement, however.
The United States has regained the number one spot, “thanks to a rebounding financial sector, an abundance of technological innovation and successful companies,” the IMD said.
Switzerland ranks second and Hong Kong third, followed by Sweden and Singapore.
"While the eurozone remains stalled, the robust comeback of the US to the top of the competitiveness rankings, and better news from Japan, have revived the austerity debate [in Europe],” Professor Stéphane Garelli, director of the IMD World Competitiveness Center, said.
“Structural reforms are unavoidable, but growth remains a prerequisite for competitiveness. In addition, the harshness of austerity measures too often antagonizes the population."
Venezuela is the last on the World Competitiveness List.
