MANILA- The Philippines went up twelve notches in an annual index of economic freedom by a top American think tank. The IEF is an annual index and ranking created by The Heritage Foundation and The Wall Street Journal in 1995 to measure the degree of economic freedom in the world's nations. "The Philippines has achieved notable economic expansion, driven by the economy's strong export performance and inflows of remittances," the report said. The Heritage Foundation said the country rose to the 58th spot this year from 70th in 2016 due to the "notable successes in fiscal policy, government spending and monetary stability."In its latest annual global survey, the Heritage Foundation said the country's economic freedom score advanced to 65.6, a 2.5-point increase from its 2016 Index of Economic Freedom (IEF) score. The score is higher than the world average of 60.9 and the Asia-Pacific region average of 60.4.
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India's dip in the index is the result of a methodological change, not a big deterioration in Low scores in two new variables – "judicial effectiveness" and "fiscal health" – pushed India's 2017 ranking down the list. For a government so devoted to rankings and ratings, India dropping 20 places to 143 in the 2017 Index of must have been a bummer. If Prime Minister felt it worthwhile to approvingly cite India's 19-place improvement in the World Bank's Logistics Performance Index, surely such a dramatic fall in should send alarm bells ringing? If we compare 2017 with previous years on a like-for-like basis, India stands at 121, pretty much the same. Furthermore, it's debatable whether saying that India ranks three spots higher than Brazil under "property rights" is truly meaningful.
Given the 2017 IEF ranking, the Philippines' economic freedom was deemed "moderately free," the IRO said. In the 2017 IEF report, The Heritage Foundation "highlighted the country's solid economic performance amid a challenging global economic environment," according to the IRO. ADVERTISEMENTThe IRO noted that the Philippines' 2017 score exceeded not only the global average of 60.9 but also Asia-Pacific's 60.4. In the 2017 IEF, the country posted the highest jump in monetary freedom of 18 notches to 68th from 86th last year. "The Philippines has achieved notable economic expansion, driven by the economy's strong export performance and inflows of remittances," The Heritage Foundation said.
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collected by :John Miller
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India's economic freedom plunge
India's dip in the index is the result of a methodological change, not a big deterioration in Low scores in two new variables – "judicial effectiveness" and "fiscal health" – pushed India's 2017 ranking down the list. For a government so devoted to rankings and ratings, India dropping 20 places to 143 in the 2017 Index of must have been a bummer. If Prime Minister felt it worthwhile to approvingly cite India's 19-place improvement in the World Bank's Logistics Performance Index, surely such a dramatic fall in should send alarm bells ringing? If we compare 2017 with previous years on a like-for-like basis, India stands at 121, pretty much the same. Furthermore, it's debatable whether saying that India ranks three spots higher than Brazil under "property rights" is truly meaningful.
PH economic freedom ranking jumps from 70th to 58th
Given the 2017 IEF ranking, the Philippines' economic freedom was deemed "moderately free," the IRO said. In the 2017 IEF report, The Heritage Foundation "highlighted the country's solid economic performance amid a challenging global economic environment," according to the IRO. ADVERTISEMENTThe IRO noted that the Philippines' 2017 score exceeded not only the global average of 60.9 but also Asia-Pacific's 60.4. In the 2017 IEF, the country posted the highest jump in monetary freedom of 18 notches to 68th from 86th last year. "The Philippines has achieved notable economic expansion, driven by the economy's strong export performance and inflows of remittances," The Heritage Foundation said.
read more visit us Economic
collected by :John Miller