Kazakhstan ranked 52nd in Economic Freedom of the World Report

ASTANA. KAZINFORM - Kazakhstan is ranked 52nd in the Economic Freedom of the World: 2016 Annual Report published by the Fraser Institute, a Canadian think tank.

In this year's ranking, Hong Kong traditionally occupies the top spot. Coming in second is Singapore. New Zealand is ranked third. Switzerland, Canada, Ireland, the United Arab Emirates, Australia and Great Britain are featured in the top 10.

Kazakhstan surpassed Kyrgyzstan (70th), Moldova (99th), Russia (102nd) and Azerbaijan (107th). Experts placed Ukraine 135th this year.

One of the earliest measures of economic freedom was developed by Freedom House. This measure incorporated a range of indicators including freedom to establish a business and freedom of union organization.

The Economic Freedom of the World was first published in 1996.

The index published in the Economic Freedom of the World measures the degree to which the policies and institutions of countries support economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property.

The EFW index now ranked 159 countries and territories.

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