Ghana goes down four places in World Bank Ease of Doing Business report

Ghana goes down four places in World Bank Ease of Doing Business report

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• The Ease of Doing Business report measures businesses’ competitiveness in 190 countries.
• Ghana ranked 118 with a score of 60 in the new report.
• This is a decline from the previous year where Ghana ranked 114 with a score of 60.4

               
           
               
                   

A new World Bank report has revealed that Ghana dropped marginally compared to last year on the ease of doing business.

               
           
               
                   

Ghana was ranked at 118, which is a drop in four places in the report of the previous year.

               
           
               
                   

The Ease of Doing Business report measures businesses’ competitiveness in 190 countries. 

               
           
               
                   

In 2019, the World Bank Ease of Doing Business ranked Ghana at 114 with a score of 60.4 and in 2020, the country was ranked 118 with a score of 60.

               
           
               
                   

The report said Ghana’s drop was due to the government’s decision to convert GETFund and NHIL levies to straight taxes.

               
           
               
                   

The World Bank explained that the conversion made paying taxes more difficult and more costly as the businesses have to bear the cost.

               
           
               
                   

World Bank 2020 Ease of Doing Business

               
           
               
                   

Doing Business 2020 is a World Bank Group flagship publication. It is the 17th in a series of annual studies which offers objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.

               
           
               
                   

Doing Business 2020 continues to show a steady convergence between developing and developed economies, especially in the area of business incorporation.

Source: Ghana goes down four places in World Bank Ease of Doing Business report

- gist culled from pulseng