Kyrgyzstan ranks 80th in 2010 Index of Economic Freedom

Its score is reportedly 61.3 that is 0.5 point worse than last year, reflecting decreases in trade freedom and freedom from corruption.

The states, which scored less than 50 points in the rating, are considered to have repressed economies, 50-60 points- mostly unfree, 60-70-moderately free, 70-80- mostly free and the countries which have 80 points or more are placed in the highest category of free states.

Hong Kong continues to maintain its position as the world’s freest economy with the score of 89.7 points, a distinction it has enjoyed for 16 consecutive years. Singapore remains close, ranked as the world’s second freest economy. Australia and New Zealand, ranked 3rd and 4th this year, have solidified their position at the top of the rankings.

As to Lenta.ru, decline in scores of the main part of the countries, including leaders of the list, has been traced for the period. So, the United States economic freedom score is 2.7 points lower than last year, reflecting notable decreases in financial freedom, monetary freedom, and property rights. The U.S. has fallen to 2nd place out of three countries in the North America region.

Exactly half of the major economies curtailed economic freedom to some degree through various interventionists economic and financial measures amid the global recession, experts of the Heritage Foundation said.

In 2009, Estonia retained its position of the freest country among the post-Soviet states, having taken the 16th place in the rating. Lithuania became the 29th, Armenia –the 38th, Russia-the 143rd, Belarus –the 150th and Ukraine –the 162nd having left Turkmenia (171st place) behind.

The other Central Asian neighbors of Kyrgyzstan took lower positions in the list: Kazakhstan turned out to be on the 82nd place, Tajikistan-on the 128th, while Uzbekistan took the 158th position.

The index estimates economic freedom of countries according to 10 broad factors: business freedom, trade freedom, monetary freedom, government size, fiscal freedom, property rights, investment freedom, financial freedom, freedom from corruption and labor freedom.

In the last Doing Business rating, Kyrgyzstan was on the 41st place, ranking among 50 leading countries.

At the same time the country took the 123rd place in competitiveness rating by the World Economic Forum.

The Global Competitiveness Report’s ranking is based on the Global Competitiveness Index (GCI), developed for the World Economic Forum in 2004. The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development. The pillars include Institutions, Infrastructure, Macroeconomic Stability, Health and Primary Education, Higher Education and Training, Goods Market Efficiency, Labour Market Efficiency, Financial Market Sophistication, Technological Readiness, Market Size, Business Sophistication, and Innovation.