Heritage Foundation's Economic Freedom Index puts Slovakia in 35th place

Slovakia's level of economic freedom placed it 35th among 180 countries in the world in this year's Index of Economic Freedom prepared by the Heritage Foundation, a US-based conservative think tank, the SITA newswire wrote. Slovakia scored 69.7 points and had an improvement of one spot compared with its ranking last year.

Slovakia's level of economic freedom placed it 35th among 180 countries in the world in this year's Index of Economic Freedom prepared by the Heritage Foundation, a US-based conservative think tank, the SITA newswire wrote. Slovakia scored 69.7 points and had an improvement of one spot compared with its ranking last year.

“Slovakia's score has increased by 0.3 points from last year, with a noticeable drop in labour freedom offset by small improvements in four other economic freedom categories,” stated the Heritage Foundation, adding that Slovakia’s regulations on work hours remain relatively rigid.

Two of the weakest scores from among the ten measured fields were again property rights and corruption, receiving only 55 and 50 points of 100, respectively.

“Slovakia's overall economic freedom remains limited by two institutional weaknesses. The judicial system is inefficient and slow and Slovakia scores relatively low in freedom from corruption, with only limited progress in recent years,” reads the report, as quoted by SITA.

Slovakia's overall score is higher than the world average. It was especially praised for its fiscal and trade freedom, which received 87.5 and 84 points, respectively. Among neighbouring countries, Slovakia lost first place from last year to the Czech Republic. Hungary placed 51st and Poland, with one of the biggest improvements, took 71st place. First place in the world again belonged to Hong Kong, followed by Singapore and Australia. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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