World Economic Freedom Index 2016 Highlights

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India has slipped 10 positions and ranked 112th in World Economic Freedom Index (WEFI) of the year 2016, which was released as part of the 2016 annual report of the Economic Freedom. India ranked behind neibhour countries Bhutan (78), Nepal (108) and Sri Lanka (111) but stood higher than China (113), Bangladesh (121) and Pakistan (133) in the World Economic Freedom Index 2016. Hong Kong topped the index, followed by Singapore and New Zealand among 159 countries. 

The Economic Freedom of the World : 2016 Annual Report, released worldwide by the Centre for

Civil Society, a public policy think tank, along with Canada’s Fraser Institute, measures the degree of economic freedom in countries in five broad areas based on 2014 data -- size of government: expenditure, taxes and enterprises; legal structure and security of property rights; access to sound money; freedom to trade internationally and regulation of credit, labour, and business. This report measures the economic freedom by analyzing the policies and institutions of all 159 countries and territories and was based on data from the year 2014. 

Top Ranked Countries in the List

1. Hong Kong
2. Singapore
3. New Zealand
4. Switzerland
5. Canada
6. Georgia
7. Ireland
8. Mauritius
9. UAE
10. Australia

Least Ranked Countries in the List

• 150th - Iran
• 151st - Algeria
• 152nd - Chad
• 153rd - Guinea
• 154th - Angola
• 155th - Central African Republic
• 156th - Argentina
• 157th - Congo
• 158th - Libya
• 159th - Venezuela

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