Algeria Lags Behind in World Economic Freedom Report 2017

Algeria Lags Behind in World Economic Freedom Report 2017

Algeria has been ranked among the 10 worst performing countries in the 2017 Economic Freedom of the World Report taking the 156th place among 159 nations.

Algeria was ranked among the 10 lowest-rated countries in the report on a par with Iran, Chad, Myanmar, Syria, Libya, Argentina, the Republic of the Congo, the Central African Republic, and, lastly, Venezuela.

Released by the Fraser Institute in Canada, the report ranks countries upon the consistency of their institutions and policies in promoting economic freedom.

The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom.

According to the report, the cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property.

Forty-two data points are used to construct a summary index and to measure the degree of economic freedom in five broad areas.

Top rated countries include Hong Kong and Singapore, which once again, occupy the top two positions. The other nations in the top 10 are New Zealand, Switzerland, Ireland, the United Kingdom, Mauritius, Georgia, Australia, and Estonia.

The rankings of some other major countries are the United States, tied with Canada at 11th spot, Germany (23rd), South Korea (32nd), Japan (39th), France (52nd), Italy (54th), Mexico (76th), India (95th), Russia (100th), China (112th), and Brazil (137th).

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