Saturday, September 17, 2011

In Ukraine, it became even less economic freedom

Ukraine fell to 164 places in the ranking of economic freedom. This is stated in the study by the U.S. research organization, the Heritage Foundation and the newspaper Wall Street Journal. Out of 179 countries in the world, our country was between Uzbekistan and the Republic of Chad. Ukraine now ranks last in the ranking among the European states. In addition, its performance is lower than the world average. The authors estimate country ratings are on a 100-point scale. Taken into account freedom of doing business, free trade, fiscal freedom, etc. The worst estimates, Ukraine received over conditions for investors - 20 of 100 (the law does not always protect the terms of contracts, privatization has stalled, foreign investors can not become owners of the land). Almost as bad experts rated the fight against corruption - 22 of 100 (corruption pervades both society and the world of management, shady relationships are present in all sectors of the economy, low wages in the public sector provides the basis for corruption in traffic police, tax authorities, the education system). Not much better situation with the budget expenditure. As noted by Heritage Foundation, government spending has reached 47,3% of GDP, and poorly managed state Naftogaz Ukraine "hangs heavily on the financial system and threatens the stability of the country itself. With regard to the business, analysts could not pass by "inefficient regulatory framework, greatly complicates the life of entrepreneurs." On this point, Ukraine received 47.1 points out of a possible 100. At the same time, experts are well estimated taxes in Ukraine: the tax burden is described as "relatively low". The five most economically free countries include Hong Kong, Singapore, Australia, New Zealand and Switzerland. Completing the list of Cuba, Zimbabwe and North Korea. Recall that last year Ukraine dropped by 162 in the rating of economic freedom. Moreover, among European countries, our country also ranked last. In 2009, Ukraine ranked 152 places in the ranking. Ministry of Industry

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