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World Bank Says Georgia Top Reformer
Civil Georgia, Tbilisi / 6 Sep.'06 / 14:44

Georgia is ranked 37th in the world in terms of the ease-of-doing-business index, according to the World Bank's report Doing Business 2007: How to Reform.

Georgia placed 100th in last year’s report, and the drastic improvement in 2006 makes Georgia the top reformer of the year. According to the report, Georgia made more progress than any other country in the world through the introduction of flexible labor rules and other reforms.

The report provides a global ranking of 175 economies on key business regulations and reforms.

The report notes that social security contributions paid by businesses in Georgia decreased from 31% of wages to 20%, making it easier for employers to hire new workers, while the collection of corporate taxes increased by 300%.

Romania and Mexico came in second and third, respectively, in terms of reforms aimed at easing business.

From the CIS countries only Armenia, which is ranked 34th in the report, is ahead of Georgia in the ease-of-doing-business index.

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