Afghanistan ranked 163rd by the Index of Economic Freedom of Heritage Foundation

in Afghan Business

Afghanistan ranked 163rd by the Index of Economic Freedom of Heritage Foundation

Afghanistan  has made its first entry in the annual Index of Economic Freedom of The Heritage Foundation and is ranked 163rd place out of 186 countries.

This comes after Afghanistan became a member of the World Trade Organization (WTO) in 2016.

At the top of the list are Hong Kong (89.8 points), Singapore (88.6), New Zealand (83.7), Switzerland (81.5) and  Australia (81.0).

Scoring 48.9 points, Afghanistan is among the repressed economies at the bottom of the South Asian countries list.

repressed economies

According to the Foundation, construction and agriculture have been the key contributors to economic expansion of Afghanistan.

It cited poor rule of law and endemic corruption as the main factors hampering the effectiveness of courts, the banking sector and other parts of the economy.

The Foundation further alleged that the presence of a large informal economy continues to diminish the development of a functioning labor market and added that the Afghan government has very limited influence on monetary policy due to the severe underdevelopment of financial systems.

“Processes for establishing businesses and obtaining necessary licenses are relatively streamlined, but other structural barriers persist,” it said.

Economic freedom is the fundamental right of every human to control his or her own labor and property. In economically free societies, governments allow labor, capital and goods to move freely and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself. Economic freedom brings prosperity to a country through healthier societies, cleaner environments, greater per capita, wealth, human development, democracy and poverty elimination.

Economic freedom is measured based on rule of law, government size, regulatory efficiency and open markets.



Related Articles

Price of wheat jumps up in Jawzjan due to a decline in yield

Wheat price has soared in Jawzjan province due to a decline in wheat yield due to lack of rains and

Welfare projects launched in Takhar

About 240 development projects have been executed in northern Takhar province in the districts of Farkhar, Wersj, Kalfagan, Rustaq, Chah

Construction of two water canals begins in Samangan Province

Work on the construction of a potable water canal and an irrigation canal was inaugurated in Samangan province. The projects

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china