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Romania dropped 12 positions, 85 th in a top regarding economic freedom
Romania dropped 12 positions, 85th rank, in a top regarding economic freedom included in the Economic Freedom Of the World 2009 report made by the Canadian institute Fraser. The economic environment in Romania obtained 6.58 points, out a total of ten in 2010 edition, against 6.79 points in the previous edition.
The ranking is led by Hong Kong, Singapore and New Zeeland.
Out of the states in Central and Eastern Europe the best placed are Estonia (12), Austria (15), Slovakia ( 16) Hungary ( 28), Lithuania (33), Bulgaria ( 36), the Czech Republic ( 46), Greece ( 60), Poland ( 66) and Russia ( 84).
Following Romania there are such countries as Croatia (87), the Republic of Moldova (87) and Serbia (97).
The study analyses the measure according to which regulations and institutions of the states support economic freedom, using 42 indicators, grouped in five general categories, the dimension of the budgetary system, the legislative system and property rights, financing access, the freedom of international trade and regulation degree.
Romania dropped six positions – 129 rank – as regards the dimension of the budgetary system but went up one place, - 66 – for the legislative system and property rights.
As regards access to financing there was a decline of 13 positions – 66 rank.
As regards the criterion referring to freedom for international trade the Fraser report placed Romania on 34 place, dropping with four places, while depending on the level of regulation, the Romanian economy was 80 dropping 13 places.
The regulation degree of the market is calculated depending on three criteria, the legiferation of the credit market, working market and business environment.
Romania was 110 ( against 94 in 2009) as regards the regulation of the credit market, on 64 as regards the legiferation of the working market ( 48 in 2009) and 70 as regards the regulation of the business environment ( against 60 last year).
The data used in the Fraser report belong to 2008, the last year for which sufficient data were available.