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By Trend

Azerbaijan entered the top three in Europe and Central Asia region in the global Doing Business 2018 rating, Executive Director of the Center for Analysis of Economic Reforms and Communications Vusal Gasimli said at a press conference on October 31.

The World Bank Group (WB) published Oct.31 an updated report Doing Business. Azerbaijan ranked 57th among 190 countries in the Doing Business 2018. The distance to frontier score stood at 70.19. This is while in the previous report, Azerbaijan ranked 65th and scored 67.07.

Gasimli said in the updated rating, Azerbaijan has improved its positions on six out of 10 indicators: access to electricity (improvement by three steps from the previous rating), property registration (one step), protection of the rights of small investors (22 steps), tax payment (five steps), execution of contracts (six steps), resolution of issues related to bankruptcy (39 steps).

Azerbaijan made the greatest progress on the indicator over "resolution of issues related to bankruptcy" (39 steps).

"I would like to especially note that a number of economic reforms carried out under the leadership of the head of state played an important role in the improvement of the six-point indicators: first, over 200 amendments were made to the tax legislation in late 2016. In fact, this served to improve the indicators of the country on the indicator "payment of taxes" for five steps, One can also hail the work carried out to improve access to credit, including the creation of a Private Credit Bureau, the adoption of the law "On the encumbrance of movable property" and others,” he said.

He stressed that Azerbaijan will continue to improve its positions in international ratings in the future.

As for the worsening of the indicators of Azerbaijan on a number of points, Gasimli noted that the reforms in these spheres were carried out, but they will be taken into account already in the next rating.

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