Slovakia ranks 29th in ‘Doing Business’

Slovakia has kept its 29^th position within the Doing Business 2016 study. The chart drawn up by the World Bank comparing business environment quality in 189 countries shows Singapore as the absolute leader in business environment quality. Slovakia has recorded the strongest upward movement in the payment of taxes, when it went up by 36 positions and reached 73^rdThe country has also improved in the field of starting businesses as it moved from the 71^st position to number 68 on the list. Slovak Finance Minister Peter Kažimír said he was happy to see Slovakia's ranking. "We're in 29^th place, which is better than the Czechs (36) and Hungarians (42), for example. We're among the top 14 countries from EU-28. I think that we should be proud of this score" said the Finance Minister. Slovakia was ranked 29^th in the chart last year, too. This year Slovakia shares this position with Slovenia. According to the chart Slovakia still has to deal with challenges concerning ways in which loans can be acquired, as well as terms for the enforcement of contracts.