Macedonia improves score in economic freedom ranking.

By bne IntelliNews January 13, 2011
Macedonia was rated 55th in a ranking by the U.S.-based Heritage Foundation, with a score of 66 points, up by 0.3 points, the 2011 Index of Economic Freedom report showed. On a regional scale, Macedonia ranked 23rd out of 43 European countries, and its overall score is above the world average. The index has a range from 0 to 100, with 100 representing the maximum freedom. The indicator has 10 components and its increase was supported by improvements in the following areas: trade freedom, fiscal freedom, monetary freedom and freedom from corruption. On the other hand, there were deteriorations in the following components: business freedom, government spending and labour freedom. The components of the index are also expressed on a scale from 0 to 100 and the countrys best results were in the areas of fiscal freedom (90) and monetary freedom (84.5), while the worst results were in the areas property rights (35) and freedom from corruption (38). The country is the best ranked one within SEE, being ahead of Bulgaria (60th globally), Slovenia (66th), Albania (70th), Montenegro (76th), Croatia (82nd), Serbia (101st), and Bosnia and Herzegovina (104th).

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