Greece has fallen nine places in this year’s study of the Index of Economic Freedom, published today by the Center for Liberal Studies (KEFIM), in collaboration with the Canadian Fraser Institute. In particular, our country occupies the 85th place among 165 countries, and for the ranking, data from 2020 was used.
In detail, the ranking of Greece in the five key areas of the index is:
- *State size: 153rd place
- *Rule of law and property rights: 54th place
- *Access to strong currency: 75th place
- *Freedom in international trade: 18th place
- *Regulatory environment in banking credit, labor and entrepreneurship: 143rd place.
At the top of the index are again this year Hong Kong and Singapore, occupying the 1st and 2nd place respectively. Switzerland, New Zealand and Denmark round out the top five best performing countries worldwide.
Further down, in 7th place is the USA, in 12th is Japan, in 25th is Germany, in 44th is Italy, in 54th is France. Other world powerhouses are lower, such as India (89th), Russia (94th), Brazil (114th) and China (116th).
Regarding the report and this year’s performance, the president of KEFIM, Alexandros Skouras, said: “The drop of nine places recorded by Greece this year in the Economic Freedom Index may to some extent be due to the size of the extraordinary state support to strengthen the economy, but in any case, it is a very worrying development that should act as a wake-up call for policy makers and the citizens of the country in general.”
At the same time, the lawyer and member of the Board of Directors of KEFIM, Tasos Avrantinis pointed out that since 2000 Greece has fallen 50 places in terms of economic freedom, a fact which, as he notes among other things, “seriously undermines the country’s development prospects, but also the opportunities to create and advance for Greek women and men”.
RES-EMP
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I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
