Business climate improves
According to an annual report by the World Bank and the International Finance Corporation — Doing Business-2011 — Belarus has become a leader in business reform, looking at five years of cumulative change, from 2006 to 2011. The country has been placed third, creating a more favourable regulatory environment for domestic entrepreneurs over the last five years.
The new report reflects the changes occurring in the regulation of entrepreneurial activity in 174 countries covered by Doing Business reports from 2006 to 2011. According to its authors, the rankings show the prevailing character of each country’s internal advancement against itself. According to World Bank experts, Belarus’ leading position is a great achievement. The World Bank believes that the reforms so far successfully realised in Belarus, in addition to further liberalisation plans, should improve the business climate.