• Спецпроекты
  • Weather forecast
    • Exchange Rates
    • 425.63
    • 515.99
    • 5.92
  • SEND YOUR NEWS TO US WhatsApp +7 (777) 001 44 99
  1. Main
  2. Learn
  3. Politics
  4. Politics

Kazakhstan ranks above world average in Economic Freedom 05 февраля 2015, 13:37

Kazakhstan ranks 69th in the annual Index of Economic Freedom, better then France and Italy.
  • Vkontakte
  • Facebook
  • Twitter
  • Одноклассники
  • Telegram
Новостью поделились: человек

©Tengrinews ©Tengrinews

Kazakhstan has ranked 69th out of 186 countries in the 2015 Index of Economic Freedom, Tengrinews reports.

Kazakhstan ranks higher than France (73), Italy (80), Croatia (81), Slovenia (88), Serbia (90), India (128), Greece (130), China (139), Russia (143), and Ukraine (162).

The Index is published annually by The Wall Street Journal and The Heritage Foundation and measures the degree of economic freedom in various countries.

It includes 10 quantitative and qualitative factors, all grouped into four general categories: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labor freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom).

Each one of the 10 freedoms is evaluated on a scale from 0 to 100, from lowest to maximum freedom. These are then averaged into a total score, all given equal weight.

With its score of 63.3, Kazakhstan occupies the position between Panama (68) and Turkey (70) in the Moderately Free group.

This year's position is a 2 point decline for Kazakhstan from last year's 67th place.

As the experts of the Economic Freedom Index explain, lowering of Kazakhstan’s ranking is due to “declines in property rights and business freedom outweighing a modest combined improvement in half of the 10 economic freedoms, including trade freedom, labor freedom, and freedom from corruption.”

Kazakhstan ranks 11 among the 42 countries of the Asia-Pacific region. In addition, its overall score is above the world and regional averages, the report says.

Impediments for Kazakhstan’s improvement of economic freedom are also mentioned. “The judiciary lacks statutory independence and is subservient to the executive branch. Corruption is prevalent and reaches into all branches of government,” according to the Index.

The five countries with the highest level of economic freedom in order of their rankings are Hong Kong, Singapore, New Zealand, Australia and Switzerland. The first place in the Index is occupied by Hong Kong for the second year in a row.

By Dinara Urazova

Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan

Firebase Cloud Messaging