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5th November, 2018

Hungary slips in World Bank’s business ranking

Hungary has fallen to 53rd from 48th on the World Bank’s latest “Doing Business” ranking, which rates the business climate in 190 countries.

Hungary managed to surpass Bulgaria among regional countries, ranked 59th, but is still behind Romania.

The study noted in particular that the tax administration of companies is very complicated in Hungary, and that regulations governing bankruptcy and winding-up proceedings also retard competitiveness.

The report provides quantitative indicators covering 11 areas, such as the ease of starting a business, obtaining construction permits, credit and electricity, and registering property.

It also evaluates protection for minority investors, paying taxes, cross-border trading, enforcing contracts, resolving insolvency, and labour market regulations.

Hungary received 72.28 points in the ease of doing business score in a range of 0-190, up from 71.94 in the previous year. Bulgaria’s score was 71.24, while that of Poland 76.95.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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