Belarus called “economically not free”

Belarus took 150th position in the annual Index of Economic Freedom, released by The Heritage Foundation.

Belarus stands in the group of “repressed countries” between São Tomé and Príncipe and Equatorial Guinea, udf.by informs.

Countries classified as “repressed” have scores below 50, economies with from 50 to 60 scores are classified as "mostly unfree", "moderately free" have scores between 60 and 69.9, countries with 70-80 are characterized “mostly free”, and more than 80 “free”.

The economic freedom score for Belarus is 48.7. Freedom from corruption deteriorated by 20 scores, money and credit freedom up to 62.6 scores. Average ratings of all countries in these spheres are 40.5 and 70.6 scores.

The Heritage Foundation notes all-embracing control and interference of the state in the Belarusian economy. The reforms have improved the scores of the country a little as compared with the last year, though they remain much more low than average in the rating, the authors note. The state controls most of financial institutions, partially or completely. Beside the fact that property rights are not defended and corruption exists, foreign investments are hindered by restrictions and bureaucracy.

Among 43 countries of Europe Belarus occupies the 42nd position, having outrun only Ukraine which takes the 162nd position. Russia is 143rd, Lithuania 29th, Poland is 71st. North Korea has only one score, and is on the bottom of the list at the 179th place.

Top ten Most Free countries:

1. Hong Kong (89.7)

2. Singapore (86.1)

3. Australia (82.60)

4. New Zealand (82.1)

5. Ireland (81.3)

6. Switzerland (81.1)

7. Canada (80.4)

8. United States (78.0)

9. Denmark (77.9)

10. Chile (77.2)

The annual rating of the Heritage Foundation measures economic freedom within 10 specific categories: labor freedom, business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights and freedom from corruption.