Kenya has trailed its East Africa’s peers in the latest World Economic Freedom Index, ranking position 132 globally on rampant corruption, regulatory efficiency and high tax burden. Kenya scored an economic freedom index of 55.3 per cent, scoring 13.5 per cent in fiscal health, one of the least globally. Globally, Singapore maintained its top position globally with an economic freedom score of 89.4, making it the world’s freest economy in the 2020 Index. The report defines economic freedom as the fundamental right of every human to control his or her own labor and property. The ideals of economic freedom are strongly associated with healthier societies, cleaner environments, greater per capita wealth, human development, democracy, and poverty elimination.

Source: The Star September 16, 2020 00:56 UTC