Slovakia drops in economic freedom index

THE ECONOMIC freedom in Slovakia dropped compared to last year. According to the latest Economic Freedom of the World 2014 report, it placed 45th, nine positions down from 2013 ranking. The country received 7.34 out of 10 points, the SITA newswire reported on October 7.

THE ECONOMIC freedom in Slovakia dropped compared to last year. According to the latest Economic Freedom of the World 2014 report, it placed 45th, nine positions down from 2013 ranking. The country received 7.34 out of 10 points, the SITA newswire reported on October 7.

Slovakia scored the best in the Sound Money area where it received 9.5 points, placing it to the 22nd position. It also received high evaluation in Freedom to Trade Internationally area where it got 7.9 points (29th place). On the other hand, Slovakia received the worst scores in the area of Business Regulations (5.4 points, 136th place), SITA reported.

The Economic Freedom of the World report compares 42 various indicators in five areas based on which it compiles a list of countries. It is prepared by 75 non-governmental organisations of all over the world that are associated in the Economic Freedom Network, led by the Canadian Fraser Institute. The partner organisation in Slovakia is F. A. Hayek Foundation supported by the German foundation Friedrich Naumann Stiftung, SITA wrote.

This year’s ranking is topped by Hong Kong and Singapore, while Republic of the Congo and Venezuela placed last.

Source: SITA

Compiled by Radka Minarechová from press reports

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