Russia continues to lose economic freedom, according to international ratings. Now the country feels at home in the company of African states: South Africa, Gabon, Rwanda, Mali. Read more about Russian business, in particular the latest news about casinos, in our publication.
According to the Heritage portal, the Russian Federation could not overcome the threshold of the hundredth point in the ranking of economic freedoms in the world. Having overtaken only neighboring Ukraine and Belarus from European countries, Russia took 113th place at the end of 2021, scored 56.1 points (a loss of more than 5 points for the year) and strengthened between South Africa and Mali. Heritage assessment is a predominantly non-free economy. According to statistical calculations, 7 out of 12 components of the rating deteriorated.
The compilers of the rating point to low investment freedom, which is reflected in the interference of the state in the affairs of the market, so the investment sector is stagnating. There is a biased attitude of the judicial system, which always stands on the side of the authorities. The ubiquitous corruption also leaves a negative imprint on Russia’s economic affairs.
The first place is occupied by free Singapore, followed by the world capital of banks – Switzerland. Cuba, North Korea and Venezuela are dangling at the bottom.
However, the overall rating of economic freedom showed a drop due to the many pandemic restrictions of 2021.
It has also recently become known that Russian domains will need to be registered through the state.
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