Belarus drops from 88th to 95th place in Economic Freedom Index
<p> MINSK, Mar 25 - PrimePress. Belarus’ position in the Index of Economic Freedom, compiled by the U.S. research institute Heritage Foundation, has fallen to 95th place from the 88th position. </p> <p> </p> <p> According to the accompanying report, Belarus' economic freedom score is 61 points, down by 0.7 point, primarily due to the declining efficiency of the judicial system. </p> <p> </p> <p> Also the report notes that Belarus ranks 43rd in the index of economic freedom among 45 countries in the European region. Thus, the total score of the country is below regional and global averages. </p> <p> </p> <p> In addition to the weakness of the judicial system, Belarus is marked by relatively low scores on indicators of property rights and government integrity, indicating the need to take additional steps to strengthen the rule of law, reads the report. </p> <p> </p> <p> It says that Belarus' falling position in the Index of Economic Freedom is linked to political problems following the presidential elections in August 2020, the results of which international observers believe were falsified. </p> <p> </p> <p> In addition, industry and state-owned agriculture are uncompetitive, and foreign investment inflow is declining mainly because of the unfavourable investment climate. Belarus is also highly dependent on Russian energy supplies, the report says. </p> <p> </p> <p> Among the neighbouring countries of Belarus, Lithuania ranks 15th, Latvia 30th, Poland 41st, Russia 92nd and Ukraine 127th. However, all of the neighbouring countries have improved their performance over the year. </p> <p> </p> <p> Launched in 1995, the Index evaluates countries in four broad policy areas that affect economic freedom: rule of law; government size; regulatory efficiency; and open markets. There are 12 specific categories: property rights, judicial effectiveness, government integrity, tax burden, government spending, fiscal health, business freedom, labour freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. Scores in these categories are averaged to create an overall economic freedom score. Hence, the higher a country scores, the better conditions its people have for work, production, consumption and investment, respectively, the higher it rises in the rankings. End </p> <p> </p>
2021-03-26
Primepress
Belarus drops from 88th to 95th place in Economic Freedom Index
MINSK, Mar 25 - PrimePress. Belarus’ position in the Index of Economic Freedom, compiled by the U.S. research institute Heritage Foundation, has fallen to 95th place from the 88th position.
According to the accompanying report, Belarus' economic freedom score is 61 points, down by 0.7 point, primarily due to the declining efficiency of the judicial system.
Also the report notes that Belarus ranks 43rd in the index of economic freedom among 45 countries in the European region. Thus, the total score of the country is below regional and global averages.
In addition to the weakness of the judicial system, Belarus is marked by relatively low scores on indicators of property rights and government integrity, indicating the need to take additional steps to strengthen the rule of law, reads the report.
It says that Belarus' falling position in the Index of Economic Freedom is linked to political problems following the presidential elections in August 2020, the results of which international observers believe were falsified.
In addition, industry and state-owned agriculture are uncompetitive, and foreign investment inflow is declining mainly because of the unfavourable investment climate. Belarus is also highly dependent on Russian energy supplies, the report says.
Among the neighbouring countries of Belarus, Lithuania ranks 15th, Latvia 30th, Poland 41st, Russia 92nd and Ukraine 127th. However, all of the neighbouring countries have improved their performance over the year.
Launched in 1995, the Index evaluates countries in four broad policy areas that affect economic freedom: rule of law; government size; regulatory efficiency; and open markets. There are 12 specific categories: property rights, judicial effectiveness, government integrity, tax burden, government spending, fiscal health, business freedom, labour freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. Scores in these categories are averaged to create an overall economic freedom score. Hence, the higher a country scores, the better conditions its people have for work, production, consumption and investment, respectively, the higher it rises in the rankings. End