BUSINESS

Ever lower in economic freedom

EIRINI CHRYSOLORA

TAGS: Economy

Greece’s record in economic freedom remains disappointing, as the latest available data, for 2018, showed a seven-spot slide down the global chart. It now ranks 92nd among 162 states, according to the new Economic Freedom of the World report from Canada’s Fraser Institute, published in Greece by the Markos Dragoumis Liberty Studies Center (KEFiM).

The index calculates performance in a series of fields: size of the state, justice and ownership rights, access to a strong currency, freedom in international trade, and the regulatory context in bank credit, labor and entrepreneurship. Greece’s worst parameter is the size of the state: It ranks 149th among 162 countries, based on budget spending transfers and subsidies, state corporations, public investments and the highest tax rate.

In 92nd, Greece ranks just below Tanzania and Colombia, and is by far the lowest-ranking member of the European Union, with Poland 77th in the global chart.

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