Russia was ranked the 120th easiest place to do business in the World Bank’s 2010 Doing Business report.
Russia was 118 last year. This year’s rankings were hurt most by a drop in the World Bank’s assessment of the ease of starting a business in Russia. Russia’s rank dropped in this category from 88 to 106. Although it’s position is unchanged this year, Russia still ranks worst at construction permits. Russia’s customs service also holds it back in the rankings. Russia fell again in the “trading across borders” category, from 160 to 162.
Russia’s best reforms this year involved making small business loans easier to get. Russia moved from a 109 to 87 in this category.
Russia ranks 103 in paying taxes. According to the report, the average mid-sized company spends about two months of full working days each year fulfilling its tax duties. This about twice the world average.
The BRIC countries in general did not fare well. Of the four nations, China was ranked the best with an overall position of 89 (just above Zambia). Russia is in second place (just above Costa Rica) while Brazil ranks 129 (just above the Sub-Saharan African nation of Losotho). India is last among the nations at 133 (just above Madagascar).
For more on Russia’s rankings, click here.
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