(Persia Digest) - Iran's economy ranked 156th freest among 180 countries in the Heritage Foundation Index of Economic Freedom, and ranked “mostly unfree”.
The Heritage Foundation ranked the economy of 180 countries based on their degree of freedom, according to which six countries including Hong Kong with a score of 90.2, Singapore with a score of 88.2, New Zealand with a score of 84.2, Switzerland with a score of 81.7, Australia with a score of 80.9 and Ireland with a score of 80.4, are the world's freest economies.
Interestingly, for the third consecutive year, Hong Kong was named the world's freest economy in 2017 among 180 countries.
Twenty-eight countries are ranked “mostly free” economies, and other countries are in “moderately free”, “mostly unfree” (including Iran), and “repressed” categories. The countries of Iraq, Libya, Liechtenstein, Somalia, Syria, and Yemen are not included in this ranking.
Iran with a score of 50.9 is higher than countries such as Burundi and Liberia, and lower than countries such as Brazil and Uzbekistan. Iran's score has increased by 0.4 points since last year.
Economic freedom consists of four indicators of “rule of law”, “regulatory efficiency”, “government size” and “open markets”. The Heritage Foundation said a 0.4 point improvement in Iran's economic freedom has been affected by improved monetary freedoms, labor market and government integrity, but the country has declined in terms of “fiscal health”, “government spending”, and “judicial effectiveness” since last year. The foundation has not explained more about these issues.
According to Heritage statistics, Iran is ranked 13th among the 14 Middle Eastern and North African countries and its overall score is below the regional and world averages.