Nov. 1 (Bloomberg) -- Estonia’s decline in the World Bank’s annual Doing Business ranking was partly due to misstated prices for construction permits which did not account for the Baltic country’s euro adoption, Aeripaeev reported, without saying where it got the information.
The survey cited the price of a sampled construction permit at 17,500 euros ($24,033) whereas it was cited at 17,500 Estonian krooni a year earlier, the newspaper wrote. Estonia in January adopted the euro at a conversion rate of 15.6466 krooni per one euro, with prices and fees for all public services re-calculated at that rate.
Estonia was ranked 24th in the last survey, published on Oct. 20, compared with 18th place a year earlier. It was ranked 89th in dealing with construction permits, compared with 24th a year earlier, according to the survey’s website.
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