Thursday, February 24, 2011

Bhutan has better economic freedom compared to its neighbors

Bhutan is a land locked country and does not have a thriving economy still it topped other South Asian countries in the worldwide economic freedom ranking.

Bhutan came up with an economic freedom score of 57.6 points making it the 103rd freest economy in the 2011 Index of Economic Freedom. In the Asia-Pacific region, the country is ranked 18th out of 41 countries.

After Bhutan, Sri Lanka came up at the 107th position with a score of 57.1 points and Pakistan 123rd with 55.1 points. India was ranked 124th with 54.6 points followed by Bangladesh at 130th with a score of 53.0 points.

Nepal and Maldives were at the lowest at 146th (50.1 points) and 154th position (48.3 points).

This is quite surprising for a country like Bhutan. The first parliamentary election of the country took place in 2007. This is a great achievement for Bhutan government.

The economic freedom is measured by ten components comprising business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption, and labor freedom.

It is evaluated by the Wall Street Journal and the Heritage Foundation, two of the top economic organizations in the U.S.

Related articles:

Bhutan Times

1 comment:

  1. Bhutan government should take advantage of economic freedom to improve the lives of its people.