Moldova moves up six positions in world top of free economies

Moldova ranks 82 out of 152 countries included in a top of economically freest countries, conducted by the Canadian Fraser Institute, according to a report released in Toronto on 18 September.

With a score of 6.86 points out of 10 possible, Moldova climbed six spots compared to the last year. According to the top, based on 2011 data, Moldova was after Tunisia and Indonesia and outstripped such countries as Italy, Kazakhstan and Greece, which hold the immediately next positions, under a study «Economic Freedom of the World: 2013 Annual Report».

The Moldovan economy’s score is slightly increasing from 6.74 last year to 6.86 points in 2013.

Romania ranks 45 and Russia 101. Hong Kong, Singapore, New Zealand and the United Arab Emirates got the best positions on the Fraser top. Estonia (16th) and Lithuania (25th) are among the top 30 countries with the freest economies.

«The relation between economic freedom and prosperity is obvious: countries with the highest economic freedom give people the best life quality», – said Fred McMahon, co-author of the Economic Freedom of the World: 2013 report.

The report issued by the Fraser Institute examines the extent to which the policies and institutions of a country support economic freedom by analyzing 42 indicators, grouped in five major areas: degree of government intervention in the economy (determined as level of government spending, taxes, public businesses), the structure of the judicial system and property rights protection, monetary stability, freedom of international trade, regulations in the bank lending sector, labour and business. A score closer to 10 shows a higher level of economic freedom.

The Fraser Institute is an independent Canadian public research and education organization, with a world network of 86 branches.

Adapted from Moldpres