Updated at 23:52,23-01-2020

Belarus improves in World Bank's Doing Business ranking


Belarus improves in World Bank's Doing Business ranking
The World Bank has published the latest economic rankings in its annual Doing Business 2017 report, where Belarus found itself 13 positions up to No 37 from No 50 in the 2016 index.

The ranking is based on 10 indicators measuring aspects of regulation that affect business in the country. Starting a Business in Belarus scored 31 (30 in the Doing Business 2016 report), Getting Construction Permits — 28 (25), Getting Electricity — 24 (74), Registering Property — 5 (7), Getting Credit — 101 (109), Protecting Minority Investors — 42 (62), Paying Taxes — 99 (95), Trading Across Borders — 30 (30), Enforcing Contracts — 27 (28), Resolving Insolvency — 69 (95).

Belarus improves in World Bank's Doing Business ranking

Experts note that no significant changes occurred in the protection of minority investors or bankruptcy procedures. However, laws in this field were changed in the course of the year, prompting the rankers to see Belarus improve in the overall ranking.

The neighbors of Belarus are ranked as follows: the highest is Latvia (14), Lithuania comes in 21st position, Poland in 24. Russia is ranked 40th, Kazakhstan 35th and Ukraine is given 80th place..

The ranking can be revised throughout the year. For example, Belarus was initially ranked 44th in the Doing Business 2016 report but later dropped 6 positions down to No 50 after the countries covered by the report submitted additional information and comments.