Belarus Ranked 44 in World Bank's Doing Business 2016
The World Bank issued its Doing Business 2016: Measuring Regulatory Quality and Efficiency as the 13th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. The Doing Business report presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies.
Doing Business 2016 presents results for two aggregate measures, namely the distance to frontier (DTF) score and the ease of doing business ranking that is based on the distance to frontier score. The ease of doing business ranking compares economies with one another, the distance to frontier score benchmarks economies with respect to regulatory best practice showing the absolute distance to the best performance on each Doing Business indicator.
According to its 2016 Doing Business report, the World Bank rated Belarus as #44 on its Ease of Doing Business scale. Last year, Belarus occupied the 57th place but later was moved to #43 in line with the updated figures. Thus, the country's rank reduced by one point though with the DTF value improvement from 71.79 to 72.33.
The 10 topics are included in the ranking in Doing Business 2016: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
The labor market regulation indicators were not included in this year's aggregate ease of doing business ranking but the data are presented in the economy profile.
Since the previous report, Belarus has made a progress in several categories:
- Starting a Business: Belarus made starting a business simpler by improving online services and expanding the geographic coverage of online registration.
- Registering Property: Belarus made transferring property easier by introducing a new procedure and effective time limits for the state registration of a property.
- Labor Market Regulation: Belarus amended the provisions of its Labor Code relating to wage regulation, labor arbitration, calculation of overtime pay and grounds for termination of employment. It also lifted prohibitions on concurrent employment.
The World Bank's Doing Business 2016 report
The economy profile of Belarus
Belarus simplifies taxation and gets better score in World Bank ranking