Analytics, Estonia, Labour-market, Legislation, Markets and Companies, Rating

The World Bank placed Estonia on the 24th position among 183 states. A year ago, Estonia was on the 18th position in the list business which should mean that it has become considerably more complicated to do business in Estonia.

The World Bank gave the weakest grade to Estonia’s state of dealing with construction permits, in which Estonia fell 52 places to the 89th position. The study indicated that getting construction persist has become 15 time more expensive in a year, which actually is not true. The kroon-euro exchange rate was 15.6. The study stated that while in 2010, joining a warehouse with water grid cost 17,500 Estonian kroons, in 2011 it was 17,500 euros. The compilers made a similar mistake when reflecting the cost of joining the electricity grid.

Estonia’s fall in the list surprised also Estonian State Chancellery, that pointed out that Estonia’s place in the list of rigidity of labour market was incorrect since the compilers neglected to notice that since summer 2009 there is a new labour contract law valid in Estonia that increased flexibility and the size of redundancy costs.

Finance Ministry said that they have drawn the attention to that mistake.