Latest articles

Kyrgyzstan's economy 'moderately free' - 2015 Index of Economic Freedom

The Kyrgyz Republic’s economic freedom score is 61.3, making its economy the 82nd freest in the 2015 Index of Economic Freedom, an annual guide published by The Wall Street Journal and The Heritage Foundation.

The 2015 Index evaluates economic conditions and government policies in 186 countries. The 'free' economies in 2015 are in Hong Kong (89.6), Singapore (89.4), Australia (81.4), New Zealand (82.1), and Switzerland (80.5).

Kyrgyzstan's score has increased by 0.2 point since last year, with improvements in trade freedom, freedom from corruption, and labor freedom outweighing declines in the control of government spending, fiscal freedom, and business freedom. The Kyrgyz Republic is ranked 15th out of 42 countries in the Asia–Pacific region, and its overall score is above the regional and world averages.

Over the past two years, the Kyrgyz Republic has re-established the positive growth in economic freedom it had achieved prior to 2010. Solid gains have been made in opening the economy to trade and investment, but the control of government spending continues to deteriorate.

Compared to transitioning economies in Eastern Europe, the Kyrgyz Republic lags behind in key indicators of economic freedom. Trade freedom has only recently surpassed the global average, and the rule of law remains weak. Corruption, particularly surrounding the president’s family and office, has been well documented. Courts remain largely unreformed, and property rights are weak.

Original url : www.akipress.com

Only registered users can post comments. If you have account, please signin here.
Only registered users can post complaints. If you have account, please signin here.

No comments so far...