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Posted by: Mihaela Bucatari

News / Economic

05 Feb. 2019 / 15:21

Moldova is ranked 97th in the world in the ranking of economic freedom

The Republic of Moldova was ranked 97th out of 180 countries included in the ranking by the American Heritage Foundation and The Wall Street Journal, according to the economic freedom index, which assesses the degree of openness of national economies.

The Republic of Moldova has gained eight positions in the world rankings and is in a group of 63 countries with "largely deprived" economies and is increasingly approaching countries whose economies are "moderately free". In the last three years, Moldova has climbed 20 positions.

According to the economic freedom index, Moldova ranks 40th out of 44 states in Europe, and its total score is below the European and global average. Moldova is ranked among the top three countries in its category and overtakes the Russian Federation, Namibia, China in the world ranking.

As stated by the report, the Moldovan economy registered a 0.7 percentage point increase in the value of the economy compared with last year, as a result of improving judicial efficiency, government spending and fiscal health, which exceeded the fall in the "Labor Force". At the same time, "the internal political impasse, caused in part by Russia, undermines the structural reform and the realization of the country's potential. Economic growth is hampered by endemic corruption and Russia's ban on imports of agricultural products from Moldova. According to the authors of the report, the Moldovan economy remains dependent on emigrants' remittances and the agricultural sector.

The top three places in the world are Hong Kong, Singapore and New Zealand.

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