Economic Freedom Index 2020-2021

04.03.2021

In the rating of the Index of Economic Freedom 2020-2021, Kazakhstan took the 34th place, thereby improving the results compared to last year by 5 points. The overall score increased by 1.5 points – from 69.6 points to 71.1 points.

American research center "The Heritage Foundation" (The Heritage Foundation) annually publishes a report on the economic freedom of the countries of the world.

178 countries participate in the Index of Economic Freedom 2020-2021 ranking. The leading positions are occupied by countries with free economies: Singapore (89.7 points), New Zealand (83.9 points), Australia (82.4 points), Switzerland (81.9 points) and Ireland (81.4 points).

Kazakhstan is consistently included in the group of countries with a moderately free economy and ranks 8th among 40 countries in the Asia-Pacific region. At the same time, the overall score of the country is much higher than the average for the region (60.2 points) and the world value (61.6).

In general, the overall assessment of the country was influenced by a significant improvement in the fiscal well-being component-from 84.1 points to 98.3 points (+14.2). In addition, there is an improvement in such components as the efficiency of the judicial system (+0.7), the tax burden (+1.3), public spending (+1.2), freedom of business (+1.6), freedom of trade (+0.2) and monetary freedom (+1.9).

The Economic Freedom Index 2020, published earlier, notes that Kazakhstan has become one of the 10 countries with the most significant positive dynamics in terms of improving its position in the rating. Positive dynamics was noted in the following indicators:
  • fiscal sustainability,
  • protection of property rights,
  • effectiveness of public authorities,
  • efficiency of public spending, freedom of business,
  • freedom of trade,
  • the effectiveness of the judicial system.
Stable dynamics was noted in such indicators as freedom of investment, freedom of the financial sector.


Note: * - component introduced in 2021
Source: The Index of Economic Freedom 2020-2021, Heritage Foundation

Components

IEF 2020

IEF 2021

Index of Economic Freedom

 

 

position

39

34

points

69.6

71.1

1. The rule of law

 

 

Ownership rights

61.3

60.2

Effectiveness of the judicial system

62.1

62.8

Government Integrity*

 

44.6

2. Government involvement

 

 

Tax burden

92.3

93.6

Government spending

85.5

86.7

Fiscal well-being

84.1

98.3

3. Regulatory efficiency

 

 

Freedom of business

74.6

76.2

Freedom of work

86.0

86.2

Monetary freedom

68.1

70.0

4. Open markets

 

 

Freedom of trade

80.2

74.6

Freedom of investment

50.0

50.0

Financial freedom

50.0

50.0



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Saved: 04.03.2021






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