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Ministry of Finance Montenegro advanced 10 places in the area of econo...
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Montenegro advanced 10 places in the area of economic freedom
Published on: Feb 2, 2012 • 5:01 PM Author: Ivona Mihajlović
Montenegro advanced 10 places according to Fraser institute annual report for 2011, with 7.27/10 points it can be found on 37th place out of 141 states.
The greatest progress has been recognized in the areas of government consumption, judicial independence, as well as in areas of access to sound money and labor market regulations.
Stagnation in applicability of contract and the decline in the indicator `the size of trade sector relative to expected` committed us to take further action in order to improve these areas.
The Institute also accepted efforts that Montenegro made in part of reaching the rule of law principle and reforms of public sector, but the current rate still points that further progress in these fields is possible and necessary.
Taking this report into account, higher level of economic freedom in the region is only with Albania, ranked as 30th and Bulgaria, at 18th place.
Thus, behind Montenegro, on this list Romania can be found on 48th place and former Yugoslav countries: Macedonia at 64th, Slovenia on 74th, the 89th Croatia, Serbia at 91th place and Bosnia and Herzegovina listed as 100th.
We remind you that the Fraser institute is independent research and educational organization based in Canada and the United States. Researches they conduct in the field of economic freedom are published in the Economic Freedom of the World annual report, and they include indicators for 141 country.
Indicators included in this index of economic freedom are:
• Size of Government
• Legal Structure and Security of Property Rights
• Access to Sound Money
• Freedom to Trade internationally
• Regulation of Credit, Labor and Business
Complete report and publicaton can be found on website: http://www.freetheworld.com/2011/reports/world/EFW2011_complete.pdf
PR OFFICE
MINISTRY OF FINANCE
The greatest progress has been recognized in the areas of government consumption, judicial independence, as well as in areas of access to sound money and labor market regulations.
Stagnation in applicability of contract and the decline in the indicator `the size of trade sector relative to expected` committed us to take further action in order to improve these areas.
The Institute also accepted efforts that Montenegro made in part of reaching the rule of law principle and reforms of public sector, but the current rate still points that further progress in these fields is possible and necessary.
Taking this report into account, higher level of economic freedom in the region is only with Albania, ranked as 30th and Bulgaria, at 18th place.
Thus, behind Montenegro, on this list Romania can be found on 48th place and former Yugoslav countries: Macedonia at 64th, Slovenia on 74th, the 89th Croatia, Serbia at 91th place and Bosnia and Herzegovina listed as 100th.
We remind you that the Fraser institute is independent research and educational organization based in Canada and the United States. Researches they conduct in the field of economic freedom are published in the Economic Freedom of the World annual report, and they include indicators for 141 country.
Indicators included in this index of economic freedom are:
• Size of Government
• Legal Structure and Security of Property Rights
• Access to Sound Money
• Freedom to Trade internationally
• Regulation of Credit, Labor and Business
Complete report and publicaton can be found on website: http://www.freetheworld.com/2011/reports/world/EFW2011_complete.pdf
PR OFFICE
MINISTRY OF FINANCE
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