KIEV, Oct. 21 – Ukraine has dropped three places in the Doing Business rating, an annual report by the World Bank on regulations that enhance business activity or those that constrain it, to 152nd position.

"Ukraine is ranked 152 out of 183 economies reviewed in Doing Business 2012, down from 149th place the previous year," reads a posting on the bank's Web site.

The report says that the Ukrainian indicator did not improve, as the important reforms the country did conduct were initiated too late to impact the current rating.

According to the report, in 2011 Ukraine passed amendments that relaxed the procedure for starting business (from June 6, 2011) and the procedure for obtaining permits in the construction area (the period of their effect is from June 2011 to January 2013).