WASHINGTON – The Philippines has the world’s 70th freest economy though its overall economic freedom score decreased by 1.2 points from last year to 63.8 points, The Heritage Foundation said. In its 2019 Index of Economic Freedom report analyzing 180 countries throughout the world and which was released recently, the think tank cited drops in scores for monetary freedom, government integrity and the tax burden outweighing a higher score for property rights. The Philippines ranked 15th among 43 countries in the Asia-Pacific region and its overall score was above the regional and world averages. “The judicial system remains weak and vulnerable to political influence,” the think tank said. According to the foundation, economic freedom is the fundamental right of every human to control his or her own labor and property.

Source: Philippine Star February 01, 2019 16:16 UTC