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Monday 23.10.2017 | Name days: Daina, Dainida, Dainis
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Study: Latvia has experienced a decline in indexes for state costs and tax burden

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn the Global Economic Freedom rating, Latvia has climbed from 36th and 20th place this year. Nevertheless, the country remains behind Estonia and Lithuania. The study shows that Latvia has experienced a decline in indexes for state expenditures, according to results of a study performed by Heritage Foundation and Wall Street Journal.

Results show that Latvia has experienced declines in indexes for government costs, tax burden, trade freedom and investment freedom. The country has managed to retain positions in indexes for court system efficiency, fiscal health and financial freedom.

In the study regarding economic freedom, Estonia is on the 6th place (9th last year) and Lithuania is on the 16th place (13th last year).

Authors of the study have confirmed that Latvia’s economic freedom level is 74.8 points, which is 4.4 percentage points more than last year, reflecting improvements in five out of twelve economic freedom indexes: property rights, government honesty, business freedom, labour force freedom and monetary freedom.

In the regional European rating, Latvia is on the 11th place, Estonia is on the 2nd and Lithuania is on the 8th place.

The economic freedom index exists since 1995. The index analyses fifty different indexes.  Authors of the index take into account a premise – the higher the economic freedom, the higher the welfare level and income per capita.

The index is calculated using four categories: rule of law, scale of the government, regulation effectiveness and market openness.

All three Baltic States are among the mostly free countries. This group includes 29 countries, including USA (17th), Sweden (19th), South Korea (23rd), Germany (26th) and Botswana (34th).

For the 23rd consecutive year Hong Kong is recognized as the most economically free land, followed by Singapore, New Zealand, Switzerland and Australia. All these countries are put in the ‘free’ countries category, the study says.

The partially free countries category has 58 countries. This category includes Japan (40th), Poland (45th), Turkey (60th), France (72nd), Italy (79th), as well as Bosnia and Herzegovina (92nd).

The category of mostly not free countries includes 65 countries. This includes countries like Serbia (99th), China (111st), Russia (114th), Greece (127th), Brazil (140th), Argentina (156th) and the Maldives (157th).

The category of oppressed countries includes 23 countries. This includes Afghanistan (163rd), Ukraine (166th), Eritrea (176th), Cuba (178th) and Venezuela (179th). North Korea is at the end of the list (180th).

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