Economic Freedom: Index 2023

The analytical center “Heritage Foundation” published the annual report on the state of economic freedom in the world “Economic Freedom Index 2023”. We decided not to evaluate Ukraine this year because of the war, but we can still draw some conclusions about freedom in the world and in our country:

A record low level of economic freedom was recorded in the world over the past 20 years.

There are only 4 (!) economically free countries in the world: Singapore, Switzerland, Ireland and Taiwan. Last year there were 7 such countries. 23 countries belong to the “mostly free” group, 56 countries to the “moderately free” group, 65 countries to the “mostly unfree” group, and 28 countries to the “repressed” group.

The average indicator of economic freedom in the world is 59.3 points out of a maximum of 100. Last year, the indicator was 60 points.

Although Ukraine is not in the rating, it can be assumed that our state remained in the group of mostly unfree countries.

We will remind you that last year Ukraine was in 130th place with an indicator of 54.1 points and was neighboring, in particular, with Tunisia, Uganda, India, and Sri Lanka. For the entire time of the rating (since 1995), Ukraine has never climbed into the group of free countries, our highest score was 56.2 in 2021.

These reports once again confirm that economic freedom is the most reliable way to the prosperity of a person and the state.

In the group of economically free countries, GDP per capita at purchasing power parity is $92,502, in the group of mainly free countries – $52,663, in the group of moderately free countries – $26,289, in the group of mainly unfree countries – $11,684, in the group of repressed – $8,124. 31.2% of the population lives in multi-level poverty in unfree and repressed countries, and 8.1% in free and predominantly free countries.

Economic freedom is the key to prosperity and well-being of the state.

And in the conditions of war, the question of economic freedom becomes a question of national security. Without a high level of freedom, it is in vain to hope for the rapid reconstruction of the country, billion-dollar investments and business development.