05 февраля 2015 13:37

Kazakhstan ranks above world average in Economic Freedom

©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.

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