PH drops 9 places in global economic freedom ranking 193 SHARES Share it! Share TweetBy Marjaleen RamosThe Philippines achieved an economic freedom score of 63.8, making the economy the 70th freest in the 2019 Index of Economic Freedom (IEF), the Heritage Foundation announced. Despite the adoption of some fiscal reforms, deeper institutional reforms are needed in interrelated areas: business freedom, investment freedom, and the rule of law. The judicial system remains weak and vulnerable to political influence,” The Heritage Foundation said. The 2019 Index graded economies based on 12 independent factors namely: property rights, government integrity, judicial effectiveness, business freedom, labor freedom, monetary freedom, government spending, tax burden, fiscal health, trade freedom, investment freedom, and financial freedom.

Source: Manila Bulletin February 03, 2019 02:37 UTC