Economic freedom report places Romania 48th among 141 countries

21 September 2011

Romania ranks 48th out of 141 countries in the world on economic freedom, found a report issued by the Fraser Institute. This was up 20 places from the previous ranking and 71 spots from the 1995 ranking. “The summary ratings of eight other countries—Bulgaria, Poland, El Salvador, Romania, Ghana, Nigeria, Hungary, and Guinea-Bissau—improved by between two and three points during this same period,” wrote the report.

The authors of the ranking took into account the size of Government: expenditures, taxes, and enterprises, legal structure and security of property rights, the access to sound money, the freedom to trade internationally and the regulation of credit, labor, and business.

In this year’s index, Hong Kong retains the highest rating for economic freedom, 9.01 out of 10. The other nations among the top 10 are: Singapore (8.68); New Zealand (8.20); Switzerland (8.03); Australia (7.98); Canada, (7.81); Chile (7.77); United Kingdom (7.71); Mauritius (7.67); and the United States (7.60).

The world’s largest economy, the United States, has suffered one of the largest declines in economic freedom over the last 10 years, pushing it into tenth place. Much of this decline is a result of higher government spending and borrowing and lower scores for the legal structure and property rights components.

You can read the full report here.

editor@romania-insider.com

(photo source: Sxc.hu)

 

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Economic freedom report places Romania 48th among 141 countries

21 September 2011

Romania ranks 48th out of 141 countries in the world on economic freedom, found a report issued by the Fraser Institute. This was up 20 places from the previous ranking and 71 spots from the 1995 ranking. “The summary ratings of eight other countries—Bulgaria, Poland, El Salvador, Romania, Ghana, Nigeria, Hungary, and Guinea-Bissau—improved by between two and three points during this same period,” wrote the report.

The authors of the ranking took into account the size of Government: expenditures, taxes, and enterprises, legal structure and security of property rights, the access to sound money, the freedom to trade internationally and the regulation of credit, labor, and business.

In this year’s index, Hong Kong retains the highest rating for economic freedom, 9.01 out of 10. The other nations among the top 10 are: Singapore (8.68); New Zealand (8.20); Switzerland (8.03); Australia (7.98); Canada, (7.81); Chile (7.77); United Kingdom (7.71); Mauritius (7.67); and the United States (7.60).

The world’s largest economy, the United States, has suffered one of the largest declines in economic freedom over the last 10 years, pushing it into tenth place. Much of this decline is a result of higher government spending and borrowing and lower scores for the legal structure and property rights components.

You can read the full report here.

editor@romania-insider.com

(photo source: Sxc.hu)

 

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