Home / Business / Georgia down One Notch in the New World Bank’s Doing Business Rating

Georgia down One Notch in the New World Bank’s Doing Business Rating

In this year’s rating that assesses the comfort of doing business, Georgia is ranked 15th . Compared to last year’s ranking, Georgia’s rating  has worsened by one  position, compared to 2006 –   6 positions. Georgia is no longer in a top ten, but still remains in a leading position among  the Eastern European countries.

Singapore has been ranked the best country to do business. Russia occupies the 62nd place.

An expert on economic issues Demur Giorkhelidze calls the World Bank’s  rating, in  which Georgia is ranked 15th  on the ease of doing business, untrue.

According to him, the economy is in critical condition,  businessdoing is not easy due to lack of access to finances, market institutions are not working and there is a lack  of  free competition.

“The World Bank’s assessment is absolutely absurd and irrelevant to reality. Today, no one robs and terrorizes businesses in Georgia, but doing business is actually difficult, because there is a lack of financial availability,  market institutions are not working, free competition doesn’t exist, the market is too excessive, and the government dominates in  the economy, “- Giorkhelidze notes.

On the ease of doing business Georgia  holds the highest place in Europe and central Asia region. In particular,

Doing Business (DB) 2015: Ease of Doing Business category taken place: 15
• The 2014 Doing Business Survey (DB2014): after changes in methodology 2014 data as a result of the re-calculation, Ease of Doing Business category taken place: 14
• The 2015 Doing Business Survey (DB 2015): “The distance to the border” (point): 79.46
• The 2014 Doing Business Survey (DB2014): “The distance to the border” received as result of re-calculation, point: 79.61; improvement: -0.15 – See more at: http://eng.ghn.ge/news-9460.html#sthash.C487B9bZ.dpuf

Since 2005, Georgia carried out the most of the reforms in the region (36), which is the biggest indicator in the world after  Rwanda .It is followed by  the former Yugoslav Republic of Macedonia with  34 reforms. In Doing Business 2015 survey,  Georgia doesn’t have  significant change compared to the same report in 2014.