Czech Republic is 30th most economically-free country

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Canadian institute Fraser ranked it 30 out of 162 countries, seven places higher than last year’s position. Results are showing that the Czech Republic is improving not only relatively to other countries, but in absolute numbers as well.

According to the Fraser institute, 1st place goes to Hong Kong and last, 162nd place, goes to Venezuela. The Czech Republic shares 30th place with Spain and Bahrain. Jiří Nohejl, Liberal institute economist, says, that “we are quite on top in categories like property rights or foreign trade. On the other hand, we ended 118th in the category of so-called size of state sector, which is crucial. A slight warning signal may be the worsening of the indicator of access to “healthy money”, especially in the situation when the changes in the composition of the National Bank Board will take place.”

The index has been published since 1996. Data released on Tuesday is based on data from 2016. The delay is due to the need to wait for data from 162 countries around the world. The index consists of five indicators that relate to the size of the state sector, the rule of law, international trade, or overall regulation. Another factor is the country’s monetary environment and the inflationary environment.

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