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October 20, 2021

Romania climbs in economic freedom table

Romania has climbed 37 places to rank 48th in an economic freedom table included in the Economic Freedom of the World 2011 report authored by Canada’s Fraser Institute, Medifax informs. The economic environment in Romania scored 7.08 out of 10 possible points this year, compared to 6.58 points last year. The powerful headway that Romania and other countries such as Bulgaria made in this table was also due to the decline of economic freedom in states that hiked government intervention in an attempt to combat the crisis. Just like last year, the table is headed by Hong Kong, Singapore and New Zealand. When it comes to other Central and Eastern European states, Romania was outranked by Slovakia (13th), Estonia (15th), Hungary (15th), Bulgaria (28th) and the Czech Republic. Romania outranks states such as Poland (53rd), Slovenia (74th) and Croatia (89th). In what concerns the public sector apparatus, Romania climbed 53 places to rank 76th. When it comes to the legislative system and ownership rights, Romania climbed 5 places to rank 61st. In what concerns the access to financing, Romania climbed 17 places to rank 49th. At the same time Romania was 101st (compared to 110th in 2010) when it comes to credit market regulations, 58th (compared to 64th) when it comes to labour market legislation and 74th (compared to 70th) when it comes to business environment regulations.

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