Russia Offered to the World Bank to Correct Doing Business Rating
OREANDA-NEWS. Roman Marshavin, Russian Federation national, the Executive Director at the Board of the World Bank Group representing the Russian Federation and the Syrian Arab Republic, announced that Moscow had proposed improving ranking methods of making out Doing Business rating.
According to him, this year, Russia took only 28th place in the rating, because the organization does not take into account all the reforms implemented in the country. “Our place is potentially higher, because the bank does not yet take into account reforms in all spheres. We made suggestions, the bank is studying them”, Marshavin said.
He also reported that the proposals for improvement have been prepared at the Ministry of Economic Development.
Marshavin noted that the World Bank leadership recognized the need to make changes in the rating methodology. The World Bank representative promised that next year, new indicators will be added to the rating.
On October 24, the World Bank published a new version of Doing Business rating. Russia took 28th out of 190 places, it surpassed Rwanda, Spain and Azerbaijan and moved three positions higher in comparison with last year. Russia has improved its ranking by accelerating access to electricity networks, strengthening protection of minority shareholder rights, reducing the time of consideration of an application for value-added tax refunds, and improving 1C software for business.According to the head of the Ministry of Economic Development Maxim Oreshkin, the rating does not fully take into account the ongoing reforms in the country. The minister also recalled that over the past 3 years, Russia has risen in the ranking by 12 positions.