Ukraine has experienced a significant drop in the economic freedom rating, being among the countries with the lowest level of economic freedom in the world. According to the report "Economic freedom in the world", prepared by the Canadian Fraser Institute, our country took the 150th place among 165 countries and territories, which is a serious decrease compared to the 113th position last year.
The decrease in Ukraine's position in the rating is due to the data taken into account for the first time after the start of the full-scale invasion of Russia. It is noted that the evaluations of the main components of economic freedom significantly worsened by all indicators:
- Government size : down from 7.29 to 5.83
- Legal system and property rights : down from 4.58 to 4.37
- Access to safe money : down from 6.39 to 4.68
- Freedom of international trade : down from 6.68 to 6.05
- Labor and business market regulation : down from 5.37 to 4.67
Among the countries that also ended up at the bottom of the list are Chad, Libya, Iran, Argentina, Myanmar, Algeria, Syria, Sudan, Congo and Venezuela. Venezuela took the last place in the ranking, while Hong Kong remained the leader, pushing Singapore to second place. Switzerland, New Zealand and the USA traditionally occupy high positions, while the Baltic countries - Estonia, Latvia and Lithuania - are also consistently on the top list.
It is noted that the average level of economic freedom in the world continues to decrease. After peaking in 2019, the level of global economic freedom fell significantly over the next three years, unprecedented in more than 25 years of measurement.
