Heritage: Macedonia is the best in the region by the index of economic freedom

According to the American Heritage Foundation and the Cato Institute, Macedonia has favorable position in reports on economic freedom.

Macedonia has improved report on the economic freedom index of the Heritage Foundation, while the Cato Institute says that Macedonia is best placed country in the region.

Macedonia is located at 43 place out of 186 countries in the report on the economic freedom index of the Heritage Foundation in Washington.

We note improvement from last year, and behind Macedonia are Albania at 51 place , Bulgaria at 61, Montenegro at 68, Slovenia at 74, Croatia at 87, Serbia at 95, BiH at 101 and Greece at 119 place.

Macedonia is on good track to improve regulatory efficiency and strengthen the rule of law. We also know that young people particularly want to have more dynamic labor market. The reform of the labor market and the continuous improvement of the policy on the open market will be very useful for the Macedonian economy, explained Kim Anthony, expert from the Heritage Foundation.

According Heritage Foundation and Kato Institute, Macedonia has the best monetary policy, while as worst is assessed the judicial protection of property rights.

Macedonia with score of 7.02 was found at 72 place at the report from Kato, out of 152 countries in the world and lags by about one point behind the 10 most developed economies.

-Macedonia is doing better than nine years ago. In 2005, Macedonia was ranked 90 and this year is 72. Macedonia is ahead before Bosnia and Herzegovina, even before Russia and Italy. This is good news, says Dalibor Rohach-expert from the Cato Institute.

From the Cato Institute pointed out that the data used in this report for economic freedom are from 2012.