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World Bank: Azerbaijan among top ten reformer countries

17 December 2020 11:47 (UTC+04:00)
World Bank: Azerbaijan among top ten reformer countries

By Ayya Lmahamad

Azerbaijan is among the top ten most reformer countries in the world, according to the World Bank Doing Business report.

As a results of an independent study conducted by the World Bank Internal Audit, Azerbaijan’s position in the Doing Business 2020 report improved by 6 steps, thus the country secured its place among the top ten reformer countries in the world.

The World Bank press release of December 2020, stated that its internal audit structures conducted a detailed diagnostic of the 2016, 2017, 2018, 2019 and 2020 data and once again revised the compliance of country ratings through the report methodology. As a result of this, the data was updated per-country indicators.

As a result of the relevant studies, it was found out that reforms carried out in Azerbaijan in 3 areas (connection to the electricity grid, fulfillment of contracts, cross border trade) were improperly assessed in the Doing Business 2020 report.

It should be noted that the corresponding diagnostic assessment covered four countries- Azerbaijan, Saudi Arabia, the United Arab Emirates and China.

After appropriate adjustments Azerbaijan’s score in the Doing Business 2020 report was raised from 76.7 to 78.5. Thus, the country’s position in the world ranking advances from 34 to 28 out of 191 countries. As a result, the World Bank has once again rated Azerbaijan as “one of the ten reformer countries in the world”.

The World Bank has started economic cooperation with Azerbaijan in 2001 with the aim of increasing institutional capacity of the country and building efficient management of oil reserves. The World Bank, an important development institution in the world, has always supported the large-scale reforms carried out in Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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