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Romania, in top 50 countries regarding economic liberty

Romania went up with 37 positions on position 48 in a ranking regarding economic liberty included in the Economic Freedom of theWorld 2011 report, made by the Canadian Institute Fraser.

The economic climate in Romania got 7.08 points out of a total of ten in the 2011 edition of the top, against 6.58 points in the last year edition, Mediafax says. The important advance in the ranking for Romania and other countries, such as Bulgaria was due to the decline of the economic freedom in other states, who increased governmental intervention in trying to stop the crisis.

The top is led by Hong Kong, Singapore and New Zealand. Among the states in Central and Eastern Europe, the best placed before Romania are Slovakia (13), Estonia (15) Hungary (15), Bulgaria (28) and the Czech Republic.After Romania were such states as Poland (53), Slovenia (74), and Croatia (89). The study analyses the measure according to which regulations and institutes of the state support economic freedom using 42 indicators, grouped in five categories, the dimension of the budgetary apparatus, the legislative system and ownership rights, access to financing, international commerce freedom and the degree of regulation.

As regards the budgetary apparatus, Romania went up with 53 positions on 76, and in the case of the legislative system and the right to ownership they advanced by 5 positions on 61. For the criterion referring to commerce freedom, the Fraser report placed Romania on 25, up by 9 positions, and for the regulation degree Romania occupied position 74, up by 6 positions.

The degree of regulation of the market is calculated depending on three criteria, legiferation of the loan market, of the work market and the business environment. Romania was placed 101 ( against 110 in 2010) as regards the regulation of the loan market, on 58 ( against 64) depending on the legiferation of the work market and 74 ( against 70) in the case of business environment regulation.

The data used in the Fraser report are from 2009, the last year with data regarding the economy of 141 analysed states. The report of 2011 shows the average score of economic freedom is down to 6.64 points in 2009, the most reduced level of the last three decades, from 6.67 points in 2008.

Sursa: http://www.actmedia.eu

Tags: romania regulation market freedom positions regarding economic

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