Romania moves up in World Bank’s Doing Business ranking; falls behind Bulgaria

Romania ranks 48th among the 189 countries surveyed for the most recent Doing Business report compiled by the World Bank, up from 72nd in 2013. Prime minister Victor Ponta celebrated the fact that Romania made such a giant leap, although according to the new methodology, it actually moved up only two positions, writes Mediafax.

“I want to thank everybody in the Government, from public institutions but also from the private field, because today the World Bank published the Doing Business report. Mister Jianu, you should buy everybody drinks because Romania climbed from the 73rd position to the 48th in the report, far ahead other European countries, with a 25-place jump in one year”, PM Ponta said to the minister for SME’s, Florin Jianu, during the Government’s meeting.

According to the new methodology practiced by the World Bank, Romania was ranked 50 last year and only climbed to positions. Most of the economies that were ranked between 60-80 last year jumped about 20 places (40-60) according to the new methodology.

In Romania it is harder to do business than in Estonia (17), Latvia (23), Lithuania (24), Macedonia (30), Poland (32), Montenegro (36), Bulgaria (38), Czech Republic (44) and Rwanda (46) according to the report.

Still, Romania’s business environment is performing better than Slovenia (51), Hungary (54), Turkey (58), Italy (56), Greece (61) and Russia (62).

Read more about

JT Grup Oil announces the launch of an IPO of 10,000,000 new ordinary shares issued following a share capital increase operation

read more

Romania suffers when it comes to electricity where it ranks 171st out of 189 countries, given that it takes 7 procedures and 223 days on average to connect to the national electrical grid.