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Kyrgyzstan takes 78th place in Index of Economic Freedom 2021

Kyrgyzstan took the 78th place in the Index of Economic Freedom 2021, compiled by Heritage Foundation.

The ranking is annually compiled on the basis of calculations in 10 main categories, taking into account the degree of economic and trade freedoms, investment openness, government interference in the economy, corruption factor and etc.

The republic’s economic freedom score is 63.7 out of 100.

Its overall score has increased by 0.8 point, primarily because of «an improvement in fiscal health.» The country’s neighbors in the ranking are Cabo Verde (77th place) and Croatia (79th place).

The Kyrgyz Republic is ranked 13th among 40 countries in the Asia—Pacific region, and its overall score is above the regional and world averages.

«The economy of the Kyrgyz Republic is ranked among the moderately free for the fifth year in a row. To achieve greater economic freedom, the government would have to move aggressively to tackle ongoing and endemic corruption. Deep structural and institutional reforms are needed to strengthen protection of property rights, improve judicial effectiveness, and reduce excessive government spending,» authors of the index say.

Kazakhstan takes the 34th place in the index and belongs to the mostly free economies category.

Tajikistan is the 134th (mostly unfree economy), Turkmenistan — 167th (repressed economy).

Russia takes the 92nd place, Belarus — the 95th, Armenia — the 32nd.

Singapore takes the first place in the ranking for the second year in a row with 89.7 points. New Zealand and Australia are in the top three. Cuba, Venezuela and North Korea take the bottom lines of the ranking.