Global economic freedom continues to deteriorate
THE RENUNCIATION OF THE PRINCIPLES OF ECONOMIC FREEDOM IN MANY ECONOMIES CAN UNDERMINE RECOVERY AND SACRIFICE ECONOMIC RESILIENCE AND LONG-TERM PROSPERITY
The overall average score for economic freedom fell by 7 tenths in IEF 23 to its lowest level in two decades
According to the Heritage Foundation, “low scores on the rule of law indicator reflect the systemic corruption of government institutions in many countries”
Europe has the highest score (68.2 points), with Switzerland leading the way
Only 4 “free” economies in the world (≥ 80 points)
“Moderate” economic freedom in Spain
IN IEF 23, SPAIN DROPS 10 PLACES IN THE OVERALL RANKING TO 51ST WITH 65 POINTS (-3.2 WITH RESPECT TO IEF 22). AMONG THE EU-27 COUNTRIES, IT RANKS 22ND
The standard of living is higher in economically freer countries
The worst results correspond to the Government size pillar, well below the overall average