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Opinions & Interviews

17 Oct 2017

Opinion: Economic liberalization will help Belarus climb up in Doing Business ranking

Opinion: Economic liberalization will help Belarus climb up in Doing Business ranking

MINSK, 17 October (BelTA) – The measures to be taken to liberalize Belarus’ economy will help the country climb up in the Doing Business ranking, Belarusian Economy Minister Vladimir Zinovsky told the media during a session of the Presidium of the Council of Ministers on 17 October, BelTA has learned.

Small and medium-sized enterprises account for 28% of Belarus’ GDP. This number is expected to reach 40% in due course, after the documents on liberalization are adopted. Belarus also hopes to improve its position in the Doing Business ranking, which may be reflected in the 2018 report.

Some of the documents on liberalization have already been signed. “The key document (a decree on the promotion of entrepreneurship) has not been signed yet. There are certain hiccups remaining in place, but it will be signed in a little while. This will help business develop more rapidly,” Vladimir Zinovsky remarked.

The Doing Business report is an annual survey carried out by the World Bank Group. It investigates the regulations that enhance business activity and those that constrain it in 189 countries. The report comes out every autumn.

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