YEREVAN. – Armenia is ranked 37th—from among 189 countries—against last year’s 40th place, in the Doing Business 2014 report, which is annually issued by the World Bank and the International Finance Corporation.

First Deputy Economy Minister Karine Minasyan informed the aforesaid during a press conference on Tuesday.

Minasyan, however, drew attention to the fact that although Armenia was ranked 32nd in the 2013 report, as a result of a revaluation of the year, it moved back to the 40th place.  

The rankings are calculated on the basis of ten indicators. Armenia lost ground in six of these indicators, progressed in three of them, and one of its indicators remained unchanged.

Separately, Georgia is ranked 8th in Doing Business 2014 improving position by one spot against last year; Turkey improved its position by 3 points and jumped to 69th place; Azerbaijan is ranked 70th improving by one spot; and Russia is in 92nd place and it has improved its ranking by 19 spots.  

Armenia has the highest ranking among the CIS countries.