Russia progressing in sustainability league
September 18, 2007
Russia is outpacing the US, UK and Germany in securing its population's long-term economic and environmental future, according to a new study.
Economists at Germany's Allianz Insurance and Dresdner Bank have ranked Russia sixth in an 18-country index of "sustainability of fiscal and ecological development", ahead of the UK (placed seventh), Germany (ninth), and the US (17th).
The result – described as "unexpected" by the report's authors on Wednesday – came about because of Russia's huge oil and gas reserves and the sharp rise in energy prices in recent years, which have boosted significantly the country's finances.
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