Russia has risen to 40th place in the ranking of Doing Business

Russia again improved its performance in the rating of ease of Doing business in 2017 from the world Bank. In the latest ranking published on October 25, Russia took the 40th place out of 190, up to 11 lines compared to last year’s version. The rating is headed by New Zealand, last year’s leader — Singapore — was on the second line.

The rating of ease of doing business is measured by several indicators, including protection of the rights of minority shareholders, ease of business registration, construction permits and connection to electricity, ease of obtaining loans and several others.

Last year Russia was on the 51 th place in the rating, also up over the year by 11 lines. Then the ex-rector of the Russian economic school and the Creator of the rating of Simeon Dyankov said that without reforms Russia will be able to demonstrate “old growth”. “There are several indicators of the Doing Business and global competitiveness index from the world economic forum, which do not directly depend on the actions of the officials, but rather reflect the state of the judicial system and so on. Now on these options in Russia generally do not. And since these parameters account for about a third of all our criteria, I think the old growth in the rating of Russia will not be able to demonstrate: improvement, but not so obvious,” he said in an interview with the Russian service Bi-bi-si.

The high position of Russia in the rating Doing Business is one of the targets prescribed in the may decrees of the President from 2012. Russia needs to climb from 120th position in 2011 to 50th in 2015 and 20th in 2018.