Lithuanian Economy Minister Evaldas Gustas attributes the drop in ranking to changes in methodology.
“If calculated based on the updated methodology, Lithuania would have been in the same 21st position last year, rather than in 20th,” he said in a press release.
According to the Doing Business 2017 report, Lithuania’s best score this year, just like last year, is for the ease of registering property, at number two in the world. The country slipped three notches to number six in enforcing contracts, but rose to 27th place in paying taxes, from 49th last year.
Lithuania this year also made improvements in dealing with construction permits, up to 16th place from 18th, and in resolving insolvency, up to 66th from 70th, but fell one notch to number 55 in terms of ease of getting electricity.
The biggest drop was in ease of starting a business, to 29th place this year, from 8th last year. Gustas attributed the decline to the methodology adjustments.
Singapore, New Zealand and Denmark remain the world’s top three countries for doing business.