S.Bagavdinava: Belarus has really improved business conditions

We turned to one of the authors of the report of the World Bank, a senior specialist in the development of the private sector by the International Finance Corporation (IFC), Svetlana Bagaudinova to comment on quite a high rating of Belarus in the World Bank.

AblameykoHow would you comment on the fact that Belarus — country that for years has been criticized for lack of political freedom and democracy, as well as for the lack of economic reforms — according to the World Bank among the top ten countries most improved conditions for doing business, and regulation?

Bagaudinova: Let's dwell on the fact that our project measures and what it does not measure. We're looking at a fairly narrow scope of business regulation — this is the law relating to the activities of small and medium domestic enterprises in each country. Here we look at a number of other important variables, such as macroeconomic stability, the availability of resources in the country, public education, and so on. That is — the cut is narrow enough.

But what is the position of Belarus in the rating and especially in the new record, which was developed in the new year: this is what you have mentioned — Belarus is one of three countries that have made the greatest impact in improving the business environment for local entrepreneurs. Here we look at the momentum regulatory changes which had place in each country for the last five years. However, we were not looking at ratings, namely indicators — that is, for the time and cost of procedures that local entrepreneurs in each country had pass in order to complete such measures as the establishment of an enterprise, the transfer of property rights, obtaining building permits, and so on. This means that here we are in every country watched the dynamics of the law as to what the condition was five years ago and today. And then in Belarus dynamics in mind. Over the past five years, the law has changed for the better. This means that for local entrepreneurs the business environment has been seriously and significantly improved.

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