Russia still 39th in WEF Financial Development Report rankings

Russia was again 39th in the World Economic Forum (WEF) Financial Development Report ranking this year, the WEF said.

The report covers 62 countries with the most developed financial systems and capital markets and ranks them by 120 criteria.

The WEF thinks Russia still lacks the necessary level of commercial access to funding (53rd place). Other weaknesses include institutional reform (59th), a weak banking sector (58th) and relatively unstable financial system (41st) and banking system (59th).

Strengths include the business environment (32nd), financial markets (35th) and non-banking financial services (8th), including securitization (3rd) and M&A activity (7th).

Hong Kong again came first in the rating, the United States second, Britain third, Singapore fourth Australia fifth and Canada sixth. Japan jumped from eighth to seventh and Switzerland from ninth to eighth. The Netherlands fell from seventh to ninth and Sweden climbed from eleventh to tenth.

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