The index has been published since 1996. The data published this year is based on data from 2019. The delay is due to the need to wait for data from 165 countries around the world. The index consists of five indicators related to the size of the public sector, the level of rule of law, international trade, or public regulation. Another factor is the country’s monetary environment and inflation environment.
“Last year, there was a somewhat contradictory result, when the index of economic freedom in the Czech Republic rose in absolute terms, but the Czechs were insulted in the rankings because they grew faster in absolute numbers than in other European countries.
In the field of general organization, the Czechs are 15th, in the field of foreign trade 29th and in the case of the legal system 28th. In the case of the financial condition, the Czechs rank 80th and even 90th in terms of government size.
“If we look in more detail at the annual Czech results, we see a slight deterioration in all components. This trend may be worrisome, especially considering that in the following years 2020 and 2021 (we recall that the data in the ranking came two years late) to the steps Which leads not only to a significant increase in government spending, and in many respects not exactly in a productive direction, but also, for example, last year’s inflation was above the target, “said Banek.
The Liberal Institute has warned that Hong Kong has been consistently at the top of the ladder since 1990. However, this year’s report warns that recent events are likely to see Hong Kong’s scores fall once data for 2020 and 2021 are available. Fred McMahon, Director of Research said Economic Freedom at the Fraser Institute: “The Chinese Communist Party Will Negatively Affect Economic Freedom in Hong Kong.”
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