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

In the Ease of Doing Business rating Panama holds position #66 ²⁰²⁰ out of 181 and Serbia is #33 out of 181 ²⁰²⁰.
Position of Panama is worse than position of Serbia.

Referencies:

1. Ease of Doing Business ²⁰²⁰ by World Bank

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

   Panama	'Score' value is	66.6
   Serbia	'Score' value is	75.7