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Doing business in Russia has become easier

Russia has raised three lines in the new World Bank Group Doing Business ranking. Our country first made its way into the top 30, rising from 31st to 28th place, among 190 countries. The rating assesses the conditions for doing business in the country.

Doing business in Russia has become easier. At least that's what World Bank experts say. According to the annual Doing Business study published by the organization, Russia has risen three positions over the past year and ranked 28th in the ranking of ease of doing business.

New Zealand has been holding the first line for several years. Following the island state, compact and dynamic Singapore and Hong Kong are located.

Places in this kind of competition for de-bureaucratization are distributed on the basis of 10 criteria, including parameters such as the difficulty of obtaining a loan, conducting foreign economic activity and even building permits.

According to World Bank analysts, Russia managed to make such a breakthrough thanks to tax reforms, strengthening protection of the rights of minority shareholders, as well as simplifying the process of connecting to electricity in Moscow and St. Petersburg.

It should be noted that over the past seven years, the Russian Federation has significantly improved its position and now it will be increasingly difficult to move forward.

 

Source: www.vesti.ru

News
The OECD predicts acceleration in the global economy and a slowdown in the domestic Russian economy. The decline in household incomes and the contraction of consumer demand may become an additional brake on the recovery of the Russian economy.
According to Rosstat, the economic downturn in Russia in 2020 amounted to 3.1% – significantly better than expected.
The Deputy Chairman of the Bank of Russia Alexey Zabotkin emphasized that the potential economic growth rates do not depend on monetary policy, they are influenced by demography, labor force, and the efficiency of institutions.
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

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