Ukraine is again in group of most economically disadvantaged countries in world
Ukraine has worsened its position in terms of key components of economic freedom and is once again in the group of the most economically unfree countries in the world.
This is reported by Censor.NET with reference to Ekonomichna Pravda.
"In the updated ranking, Ukraine took 150th place among 165 countries and territories, compared to 113th last year," the report "Economic Freedom in the World" by the Canadian Fraser Institute said.
This drop is the result of the fact that the ranking for the first time takes into account data collected after the start of the full-scale invasion.
Countries such as Yemen, Libya, Iran, Argentina, Myanmar, Algeria, Syria, Sudan, Zimbabwe, and Venezuela are at the bottom of the ranking table alongside Ukraine.
Ukraine's score on key components of economic freedom:
- Size of government: deterioration from 7.29 to 5.83.
- Legal system and property rights: deterioration from 4.58 to 4.37.
- Access to reliable money: deterioration from 6.39 to 4.68.
- Freedom of international trade: deterioration from 6.68 to 6.05.
- Regulation of the labour market and business: deterioration from 5.37 to 4.67.
It is also reported that Hong Kong topped the ranking, pushing Singapore to second place. They are traditionally followed by Switzerland, New Zealand and the United States. The Baltic States - Estonia, Latvia and Lithuania - have also been in the first quartile for many years.
It is noted that the global average indicator of economic freedom continues to decline.
The level of global economic freedom peaked in 2019, but declined over the next three years, which is unprecedented in more than 25 years of measuring economic freedom.
