Statement:
It is harder to do business in Panama than in Cyprus

In the Ease of Doing Business rating Panama holds position #66 ²⁰²⁰ out of 181 and Cyprus is #41 out of 181 ²⁰²⁰.
Position of Panama is worse than position of Cyprus.

Referencies:

1. Ease of Doing Business ²⁰²⁰ by World Bank

   The countries in the rating sorted by 'Score' in descending order.

   Cyprus	'Score' value is	73.4
   Panama	'Score' value is	66.6