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Romania, Albania lead SEE countries in economic freedom ranking - Fraser Institute

Romania, Albania lead SEE countries in economic freedom ranking - Fraser Institute Ken Teegardin/CC BY-SA 2.0

SOFIA (Bulgaria), September 12 (SeeNews) - Romania and Albania have the greatest degree of economic freedom among 11 countries of Southeast Europe (SEE), the Fraser Institute said in its 2019 annual report on economic freedom in the world published on Thursday.

Although Romania is leading in terms of economic freedom among SEE countries, its score was lower compared to last year's ranking, while Albania's has score improved, according to the report published on the website of the Canada-based think-tank.

A total of six SEE countries have improved their scores compared to last year's edition and four were ranked lower.

The ranking measures the degree of economic freedom in five broad areas - size of government: expenditures, taxes, and enterprises; legal structure and security of property rights; access to sound money; freedom to trade internationally; and regulation of credit, labour, and business. The 2019 issue of the Economic Freedom report is based on data for 159 countries for 2017, the most recent year of available comparable statistics, the Fraser Institute said.

Romania was 28th in the overall ranking. The country's high score was largely due to its good performance in terms of legal system and property rights and freedom to trade, the authors of the ranking explained.

Albania climbed to 30th spot, from 34th place mostly due to good performance in the monetary indicators and freedom to trade. 

Croatia advanced most among SEE counties - to 56th spot from 75th, due to its good performance in terms of monetary indicators.

Montenegro descended to 83rd position, from 72nd place, recording the largest drop among SEE countries in terms of ranking, mainly due to unimpressive performance in the legal structure and security of property rights area.

Ranking details by country follow:

  Ranking 2019 Ranking 2018
Albania 30 34
Bosnia and Herzegovina 92 98
Bulgaria 37 46
Croatia 56 75
Greece 102 107
Macedonia 73 68
Moldova 97 95
Montenegro 83 72
Romania 28 20
Serbia 80 84
Slovenia 67 71

source: The Fraser Institute