2014 Index of Economic Freedom: Economic Summary Pakistan’s economic freedom score is 55.2, making its economy the 126th freest in the 2014 Index. Its score is essentially the same as last year, with modest improvements in investment freedom and monetary freedom largely offset by deteriorations in freedom from corruption, business freedom, and trade freedom. Pakistan is ranked 26th out of 42 countries in the Asia–Pacific region, and its overall score is below the world and regional averages. Over the 20-year history of the Index, Pakistan’s economic freedom score has declined by over 2 points. Scores have deteriorated in five of the 10 economic freedoms, including property rights, investment freedom, and financial freedom. Most notably, a 40-point decline in property rights has severely undermined Pakistan’s performance in the rule of law. Pakistan’s economy has consistently been rated “mostly unfree.” Social and political instability undercuts meaningful progress toward a stable macroeconomic environment. Corruption, endemic throughout the economy, remains a serious drag on long-term economic development. The overall regulatory environment continues to be affected by convoluted administrative bureaucracy, and there is little commitment to opening markets.
Posted on: Wed, 03 Dec 2014 15:46:38 +0000
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