Poland drops to 40th place in World Bank's Doing Business ranking

Poland dropped to 40th place, by 7 places, in the World Bank's Doing Business ranking for 2020, according to a report published on Thursday. This is the fourth decreasing year in a row and since the 2017 report (issued in 2016) Poland has lost a total of 16 positions.

The first ten places in the ranking were taken by New Zealand (first), Singapore, Hong Kong, Denmark, South Korea, USA, Georgia, UK, Norway, Sweden (tenths).

However, the Polish Ministry of Entrepreneurship and Technology (MPiT) argues that this year's decline in the ranking is a one-off situation. MPiT also believes that despite a lower position in Doing Business 2020, our country is positively assessed as a place to invest. For example, in the" Global Best to Invest 2019 "ranking we took 5th place in the world. In the “Investment Climate "study (PAIH, Grant Thornton and HSBC) 94% of foreign investors are satisfied that they have invested in Poland and would do it again. Our economy is also appreciated by the 3 largest rating agencies: Fitch, Moody's and S&P, which maintain their ratings with a stable outlook, MPiT argues.

(PAP)