The Canadian Fraser Institute placed Ukraine in 150th place in its ranking; last year our country ranked 113th there.
Ukraine in 2024 worsened its position and again found itself in the group of the most economically unfree countries in the world. This is confirmed by the report data Economic Freedom in the World, Canadian Fraser Institute.
In the updated ranking, Ukraine took 150th place out of 165 countries and territories, compared to 113th place last year. The drop in rankings is the result of analysts taking into account data collected after the full-scale invasion began for the first time.
Following Ukraine at the bottom of the ranking table are the following countries: Yemen, Libya, Iran, Argentina, Myanmar, Algeria, Syria, Sudan, Zimbabwe and Venezuela.
Assessments of Ukraine in the main areas of economic freedom:
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Size of government: breakdown from 7.29 to 5.83.
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Legal system and property rights: breakdown from 4.58 to 4.37.
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Access to safe money: breakdown from 6.39 to 4.68.
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International trade freedom: breakdown from 6.68 to 6.05.
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Labor and business market regulation: deterioration from 5.37 to 4.67.
Hong Kong topped the ranking, pushing Singapore to second position. These are traditionally followed by Switzerland, New Zealand and the USA. The Baltic countries – Estonia, Latvia and Lithuania – are in the first quarter of many years.
The global average for economic freedom continues to decline.
The level of global economic freedom peaked in 2019 and declined in the following three years, unprecedented in more than 25 years of measuring economic freedom.
Let’s recall that the head of the tax committee of the Verkhovna Rada, Daniil Getmantsev, said that at the beginning of 2024, Ukraine has 500 billion UAH of undeclared taxes in the shadows. In the future – after the measures taken – the amount may reach UAH 420-430 billion.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.