Belarus down 12 spots in Doing Business rankings
Dzmitryj Zajac, Naviny.by
30 October 2019, 10:28
Belarus moved down 12 spots to rank 49th out of 190 countries in the World Bank’s 2020 Doing Business rankings.
The country ranked 37th last year.
According to the report, Belarus “weakened minority investor protections by no longer requiring immediate public disclosure of related-party transactions.”
New Zealand was ranked top of the 2020 table, with Somalia at the bottom.
All of Belarus` neighbors were ranked above the country, with Poland in the 40th place, Russia in the 28th place, Latvia in the 19th place and Lithuania in the 11th place.
The Belarusian authorities had previously declared their intention to make Belarus one of the world`s 30 most business-friendly economies in the World Bank’s survey.
In 2016, Piotr Arušaṅjanc, the then head of the economy ministry`s Enterprise Department, said that the objective was to make it into the top 30 most business-friendly economies by 2020.
The World Bank has repeatedly highlighted the need to carry out reforms to ease the tax burden on businesses in Belarus in order to improve the country’s ranking.
According to the World Bank, the tax burden in Belarus is much higher than in other countries.
30 October 2019, 10:28
Photo by pixabay.com
The country ranked 37th last year.
According to the report, Belarus “weakened minority investor protections by no longer requiring immediate public disclosure of related-party transactions.”
New Zealand was ranked top of the 2020 table, with Somalia at the bottom.
All of Belarus` neighbors were ranked above the country, with Poland in the 40th place, Russia in the 28th place, Latvia in the 19th place and Lithuania in the 11th place.
The Belarusian authorities had previously declared their intention to make Belarus one of the world`s 30 most business-friendly economies in the World Bank’s survey.
In 2016, Piotr Arušaṅjanc, the then head of the economy ministry`s Enterprise Department, said that the objective was to make it into the top 30 most business-friendly economies by 2020.
The World Bank has repeatedly highlighted the need to carry out reforms to ease the tax burden on businesses in Belarus in order to improve the country’s ranking.
According to the World Bank, the tax burden in Belarus is much higher than in other countries.
