Montenegro climbs in economic freedom ranking.

By bne IntelliNews January 11, 2013
Montenegro climbed two places in this year's Index of Economic Freedom by the US-based Heritage Foundation, slightly improving its score to 62.6 (up by 0.1 points). The country ranked 70th out of 177 countries reviewed in the index. Montenegro registered improvements in four of the 10 economic freedom categories. In particular, improvement in management of public spending, business freedom and freedom from corruption compensated for decline in monetary freedom, trade freedom and labour freedom. The country ranked 33th out of 43 countries in Europe and its overall score is above the world average (59.6). According to the report, the economy's competitiveness is supported by low flat tax rates and ongoing regulatory reforms. On the negative side, the overall progress in reforms aiming at increasing efficiency of government spending has been sluggish while bureaucracy remains important and corruption is still perceived as significant.

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