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Sep 20, 2023 13:16 EEST
September 20 (SeeNews) - Romania ranked the highest among countries in Southeast Europe (SEE) in the 2023 economic freedom report by Canadian think-tank Fraser Institute, gaining recognition for its stable inflation and ability to engage in international trade with minimal government interference.
Romania secured the 27th position out of 165 countries listed. The country climbed two places in the index compared with last year, scoring 7.70 points, above its prior-year score of 7.62 points.
The economic freedom index assesses how a country's policies and institutions contribute to economic freedom across five key areas: government size, legal system and property rights, sound money, international trade freedom and government regulation.
Bosnia and Herzegovina ranked last among SEE countries at 82nd place with a score of 6.66 points out of 10 possible, the Fraser Institute said in a report published on Tuesday and based on data from 2021.
Elsewhere in SEE, Albania advanced to 31st place in the 2023 report, up from 32nd in 2022, achieving a score of 7.60 points. Montenegro closely followed in the 32nd spot, also falling within the 'most free' category, with a score of 7.59 points.
Croatia and Slovenia achieved close rankings, with Croatia making a significant jump of 12 positions to reach the 53rd spot with a score of 7.25 points, while Slovenia climbed seven positions to secure the 55th place with 7.23 points.
Bulgaria, on the other hand, dropped six positions from the previous year's list, landing at the 43rd spot, categorising it in the 'second quartile,' with a reduced score of 7.46 points compared to 7.54 points in 2022. Meanwhile, Moldova held the 57th position, while Greece and Serbia secured the 72nd and 76th spots, respectively.
At the global level, Singapore claimed the top spot, swapping places with Hong Kong, which came in second. Switzerland, New Zealand and the United States occupied the remaining places within the top five. In contrast, Venezuela remained the lowest-rated country, alongside Zimbabwe, Syria, Sudan and Yemen, forming the bottom five.
The global average rating remained constant in 2021, maintaining the same score of 6.77 points as in 2020.
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