06.07.22 Review

Over the past two decades, the level of Russia’s economic diversification has remained virtually unchanged, new international index shows

Russia's progress in economic diversification in 2000–2019 was modest according to the estimate of the Dubai-based Mohammed bin Rashid School of Government. Within 20 years Russia was able to rise from the 56th place to only 54th in the global ranking, and its absolute economic performance indicators over the past two decades were lower than those of oil-producing Gulf countries, and significantly lower than those of the rating leaders — the United States, China and Germany.