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Romania, ranked 63 out of 179 countries according to the index of economic freedom

The index of economic freedom calculated annually by Heritage Foundation improved for Romania by one percentage point in 2010, at 64.2, placing the Romania economy on the 63 place out of 179 countries included in the list.

Romania shares the 63 place with France which has the same number of points and in framed by Portugal ( 64.4) and Saudi Arabia ( 64.1).The index of economic freedom places Romania higher in the top than states such as Thailand, Turkey, Poland ( the only European economy which did not get into recession), South Africa, Greece, Italy, Bulgaria, Croatia, Egypte, Brasil, India, China, Russia or Argentina, but the Romanian economy is surpassed in the top, besides the majority of developed economies in the west by states such as Georgia, Botswana, Uruguay, the Czech Republic, Slovakia, Hungary, Latvia, Slovenia, Israel, Columbia, Panama, Trinidad Tobago or Jamaica.

The index is calculated according to ten criteria. Romania recorded improvements for five out of the ten, four got worse, and one stagnated against 2009, the Heritage Foundation report shows. Thus, commercial freedom, the freedom to invest, property rights, the freedom against corruption and the freedom of work improved in Romania this year, the financial freedom has a similar score to that in 2009, and the freedom of business, fiscal freedom, public expenditure and the monetary freedom had scores under those of last year.

The top of economic freedom for 2010 is led, as usual, by Hong Kong and Singapore which obtained 89.7, 86.1 points respectively out of the maximum score of 100 points. The top of the first ten countries in the world is completed by Australia, New Zealand, Ireland, Switzerland, Canada, the US, Denmark and Chile. Other important places are occupied by the UK ( 11), Luxembourg and the Netherlands ( 14 and 15 ), Japan ( 19), Austria and Germany ( 22 and 23), Cyprus ( 24), Spain ( 36), Mexico ( 41), the United Arab Emirates ( 46) or the four big emerging economies BRIC - Brasil, Russia, India and China under 110.

Economic freedom reduced abruptly along 2009, following the massive public expenditure and governmental intervention for the saving of banks and companies from bankruptcy, in the context of the global crisis, and the trend could endanger the perspectives of global economy, Reuters says.

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Tags: freedom economic index countries romania

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