Serbia ranks 48th of 190 countries on the ease of doing business compared to 43rd place last year.
This is true even though it has a higher points total, says the latest World Bank report, “Doing Business 2019: Training for Reform”, released on Wednesday, Tanjug reported.
“The main reasons behind the drop in the rankings are the faster pace of improvements in other economies’ business regulatory environment,” the World Bank said in a statement.
Serbia reported the best ranking in dealing with the construction permits category, taking the 11th spot, one spot lower than a year ago, while its poorest ranking is in the electricity supply category, 104th, down from 96th, Beta reported.
According to the World Bank, the main reason for Serbia’s drop on the list is the swifter progress of other countries.
World Bank Country Manager for Serbia Stephen Ndegwa said that reforms carried out by the government, in partnership with business associations had produced benefits for everyone from entrepreneurs, small and medium-sized enterprises to large domestic and foreign investors, facilitating the creation of new jobs and stimulating further economic growth.
Thomas Lubeck, IFC regional manager for Central and South Europe, said that Serbia had implemented an important reform facilitating the issue of construction permits.
“Serbia’s total points in the ease of doing business increased from 73.32 in Doing Business 2018, to 73.49 in Doing Business 2019,” he said.