Eastern Europe and Central Asia Create Best Environments for Local Firms

Eastern Europe and Central Asia are the current world leaders in enhancing business conditions for local firms, according to a new World Bank and IFC report.

The top global improver this year was Poland; it has instituted four regulatory reforms to ease pressure on businesses in the region. Both Eastern Europe and Central Asia have implemented more than 350 similar reforms over the past seven years.

“We are very encouraged by the rapid pace of reform in Eastern Europe and Central Asia,” said Augusto Lopez-Claros of the World Bank Group. “Many of these reforms have been implemented in the context of EU accession negotiations. Economic integration and the desire to catch up with more prosperous partners have been a powerful incentive to promote ambitious reform agendas.”

The top global improver since 2005, Georgia has implemented 35 institutional and regulatory forms. Its economy has improved in all areas, according to Doing Business. This past year it improved in a total of six areas.

In addition, hedge funds in the region encountered marginal gains this month within mid-month reversals in market trends. The Eurekahedge Hedge Fund Index for example, was up 0.52%1 , bringing its year-to-date return to 4.51%.

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