ECONOMIC freedom in Slovakia dropped compared to last year. According to the latest Economic Freedom of the World 2014 report, based on 2012 statistics, it placed 45th out of 152 compared countries, nine positions down from its 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 in the 22nd position. It also received a 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).
Slovakia’s economic freedom is comparable with Portugal, for example, which ended 43rd or Latvia which placed 44th. The Czech Republic placed 42nd, Poland 48th and Hungary 50th.
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 from all over the world that are associated in the Economic Freedom Network, led by the Canadian Fraser Institute. The partner organisation in Slovakia is the 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 the Democratic Republic of the Congo and Venezuela placed last.
13. Oct 2014 at 0:00 | Compiled by Spectator staff