Greece has once again followed a familiar pattern as it lost ground on the latest “Doing Business Index”, published by the World Bank.
According to the report, which is set to be formally released today and which assesses how easy it is to do business in 183 countries, Greece slipped 12 places to position number 109 – ranking below countries such as Ethiopia and Papua New Guinea.
Rankings are based on a series of indexes covering business environments in each country and the time and money needed to set up an enterprise. Greece fell in six out of the nine indexes for business environment, it remained unchanged in two, and improved its position in one index.
More analytically, Greece’s rankings fell in start-up of an enterprise (149 from 146 last year), assets recording (153 from 107), access to credit (89 from 87), investor protection (154 from 153), cross-border trade (84 from 81) and termination of operations (49 from 43). It remained unchanged in building permits (51) and tax payment (74), while it improved in contract implementation (88 from 89).
In Greece 15 procedures were needed for business start-up, up from 5.6 on average in the OECD, while the time needed was 19 days, up from 13.8 percent in the OECD, cost was 20.7 percent of per capita income from 5.3 percent in the OECD and minimum capital was 22.3 percent of per capital income, from 15.3 percent in the OECD.
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