Latvia Up to 14th place in doing business rating

Latvia has climbed to 14th position from the 22nd place last year in the World Bank's Doing Business 2017 rating. The change has come thanks to an improved accessibility to credit information and reforms that have made paying taxes easier.

The World Bank indicated that this year's rating is not directly comparable to the results of Doing Business 2016, because of changes in the methodology. On a comparable metric with all adjustments made to the Doing Business 2016 data, Latvia's ranking would have been 17 last year. This still means an improvement on a year-on-year basis by three positions.

Doing Business 2017 finds that Latvia implemented substantive improvements in the local regulatory framework in the following areas: better access to credit information by launching a private credit bureau; making paying taxes less complicated by improving its online systems for filing corporate income tax returns and mandatory labor contributions.

The annual World Bank Group flagship Doing Business report analyzes regulations that apply to an economy's businesses during their life cycle, including start-up and operations, such as trading across borders, paying taxes, and resolving insolvency. The aggregate ease of doing business rankings are based on the distance to frontier scores for 10 topics and cover 190 economies.

Source: LETA