Baku, Azerbaijan, January 28
Trend:
The Heritage Foundation ranked Uzbekistan 140th out of 180 countries in the world in the ranking of economic freedom, Trend reports via UzDaily.
Compared to the previous rating, Uzbekistan has risen by 12 positions and now has index of 53.3 (up by 1.8 points).
The country's index has improved by raising the level of business freedom, property rights and fiscal freedom, trade freedom, labor freedom, etc. However, Uzbekistan economy remains in the category of “not free”.
As in the last year, the leaders of ranking are the economies of Hong Kong (index - 90.2), Singapore (89.4), New Zealand (84.4), Switzerland (81.9), Australia (80.9) and Ireland (80.5). The worst indicators are in the economies of Cuba (27.8), Venezuela (25.9) and North Korea (5.9).
The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world countries.
The index’s approach underlines that basic institutions protecting the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society.