Ukraine dropped in the ranking of doing business Forbes

Украина упала в рейтинге ведения бизнеса Forbes

Ukraine ahead of Russia in the rating doing business

This year Ukraine ranked 74, and in the past – 61.

Ukraine ranked 74th in the Forbes best countries for business in 2017, while last year it took the 61st place. Russia ranked 79th.

The best country for doing business magazine has named Sweden, noting its growth over the past year to 4.2 percent.

The top ten rating also includes seven European countries as well as Hong Kong, New Zealand and Canada.

Ukraine ranked 74 th place (between Indonesia and Armenia). It is noted that the conflict in the Donbas harm the economic growth of the country.

“With the loss of large parts of heavy industry in the Donbass, Ukraine’s economy has contracted by 6.8 percent in 2014 and continued to fall to 10.5 percent in 2015. Ukraine and Russia entered into a trade war, the trade turnover between the countries fell sharply by the end of 2015”, – writes the edition.

At the same time, the magazine has reminded that from 1 January 2016 launched a free trade area EU-Ukraine, and as expected, it will help Ukraine to integrate its economy with Europe by opening markets and harmonization of legislation.

Poland in the ranking of 31, Hungary – 41, Georgia – 43, Romania – 45, Moldova 77.

Meanwhile, Ukraine has risen in the ranking of Doing Business.