Singapore is the world's freest economy: Heritage Foundation

Singapore's economy has been ranked the freest in the world this year in the Heritage Foundation's 2021 Index of Economic Freedom, the second year in a row it topped the list.
Singapore is the world's freest economy: Heritage Foundation ảnh 1Singapore's Marina Bay (Photo: CNN)

Singapore (VNA) - Singapore's economy has been ranked thefreest in the world this year in the Heritage Foundation's 2021 Index ofEconomic Freedom, the second year in a row it toppedthe list.

The city-statescored 89.7 points, with its overall score having increased by 0.3 points from2020, primarily because of an improvement in points gained for governmentspending, the think-tank said on March 4.

Singapore's scoreplaced it far ahead of both the regional average for 40 countries in the AsiaPacific (60.2) and the world average (61.6).

It was followed in the rankings by New Zealand, Australia,Switzerland and Ireland, in that order, with scores ranging from 83.9 (NewZealand) to 81.4 (Ireland).

The US ranked 20thwith a score of 74.8, and Germany was 29th with a score of 72.5. Thailand tookthe 42nd spot with a score of 69.7, and China was No. 107 with a score of 58.4.

Hong Kong, whichhad topped the list for 25 of the last 26 years, was left out of this year'sIndex, as it has come under the direct control of Beijing, the HeritageFoundation said.

The Index ranks 12 indicators under four categories: rule of law,size of government, regulatory efficiency, and open markets./.

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