Nepal falls behind in economic freedom

Comment

Deekshya Nakarmi
Deekshya Nakarmi

In the Economic Freedom of the World Report 2016 Annual Report, Nepal ranks 108th out of 159 economies, with an overall score of 6.54 (in a scale of 1 to 10 where a higher value indicates a higher level of economic freedom). Nepal has dropped two places down in the global ranking compared to last year’s ranking. Previously, Nepal ranked 106th out of 157 economies with a score of 6.56.

EFWR 2016

Nepal scores in key components of economic freedom are:

  • Size of government: dropped to 7.89 from 8.72 in the last year’s report
  • Legal system and property rights: climbed to 4.79 from 4.33
  • Access to sound money: climbed to 6.43 from 6.42
  • Freedom to trade internationally: climbed to 6.72 from 6.47
  • Regulation of credit, labour and business: climbed to 6.87 from 6.85

About the Economic Freedom Index

The Economic Freedom of the World Report is world’s premier measurement of economic freedom, measuring and ranking countries in five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business. It measures the degree to which the policies and institutions of countries support economic freedom.

The Fraser Institute produces the annual Economic Freedom of the World report in cooperation with the Economic Freedom Network, a group of independent research and educational institutes in nearly 100 nations and territories. Samriddhi Foundation is member of the Economic Freedom Network and is a co-publisher of the report in Nepal.

Deekshya Nakarmi

About Deekshya Nakarmi

Deekshya Nakarmi is Communications and Outreach Assistant at Samriddhi, The Prosperity Foundation. She is a student of Development Studies.

Leave a Reply

Your email address will not be published. Required fields are marked *