Holmes: Macedonia is a reform example that should be followed by the neighboring countries

Kim Holmes, founding editor of the American Heritage Foundation and Wall Street Journal’s Index of Economic Freedom, which ranks the countries in the world according to their respect of economic freedom, says that Macedonia is an example that other Balkan states should be following if they want to provide economic success, MIA reporter informs from Washington.

According to the index, which was published yesterday, Macedonia is ranked on 43. position in the world, or 20. in Europe, and first in the Balkan region.

- It is very important when a country handles economic freedom properly, stressing it as a successful example, so that other countries allow themselves to see what works and what does not. Macedonia has significantly improved  in the recent years, especially in regards to the freedom of doing business and cutting taxes. This is something that other countries in the Balkans should be replicating, said Holmes at Tuesday’s presentation of the index at the Heritage Foundation.

Macedonia is ranked high for its openness to trade, freedom for doing businesses, and particularly for the low debts and low taxes. Of the four areas assessed by Heritage and The Wall Street Journal, Macedonia has weak marks only for the property rights and the level of corruption.

Holmes says that Macedonia is highly ranked thanks to a series of trade reforms implemented in the past years. Macedonia is at the same 43. position as last year, just before Spain, Poland and Hungary, followed by Latvia’s successful reform story. In the region, Albania is at the 54. position, Bulgaria and Romania at 61. and 62., Montenegro 68., Slovenia 74., Croatia 87., Serbia 95., and Greece is at the 119. position.

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