Bosnias performance in 2012 economic freedom index worsens.

By bne IntelliNews January 13, 2012
Bosnias score in the 2012 Index of Economic Freedom worsened due to a significant decline in business freedom and it ranked 104th among a total of 179 countries, the rankings website showed. The index is published by The Heritage Foundation in partnership with The Wall Street Journal and covers 10 freedoms from property rights to entrepreneurship. Bosnia ranked 38th among 43 European countries and its overall score, which weakened by 0.2 points, remains well below the regional average. The foundations of economic freedom are fragile and uneven across the country, the survey said. The rule of law is weak, and local courts are subject to substantial political interference and lack the resources to prosecute complex crimes effectively, it added. Business activity is discouraged by poor protection of property rights, widespread corruption, intrusive bureaucracy and costly registration procedures. In addition, inefficient and high public spending perpetuates fiscal burdens. Bosnias economic performance has deteriorated not only because of the global economic slowdown but also due to the generally slow pace of the transition to regulatory efficiency and open-market policies, the survey said. The entrepreneurial environment remains one of the regions most discouraging.

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