Israel Falls in World Banks Index for Doing Business

According to the World Bank’s annual Doing Business survey, Israel ranks near the bottom of developed countries for conducting business after falling another three places in the past year. Overall, the Jewish state ranks 53rd out of 189, but has nosedived since 2006, falling 27 places in that time. Among 37 nations considered to be “developed,” only Luxembourg, Turkey and Greece faired more poorly than Israel. Critics say that while other nations on the list strive for improvement, Israel has done little to reverse the trend. The Doing Business Report measures the ease with which an entrepreneur can open and operate a small to medium-sized business taking into account all rules, regulations and taxes the business owner faces. Israel was ranked 103 for paying taxes and 127 for registering property. According to the daily Haaretz, Israeli Prime Minister Netanyahu last month appointed a ministerial committee to deal with “excessive regulation.”