Ukraine is in 112th place in the Index of Economic Freedom 2023

The Canadian “Frazer Institute” published another report on the state of economic freedom in the world “Economic Freedom of the World 2023”. Ukraine was in 112th place with an index of 6.17 points out of 10 possible. Compared to last year, the improvement is only 0.01 points.

The world average is 6.77 points. Therefore, Ukraine needs another 0.6 points for it. 0.6 points is the distance between Japan (20th) and Malaysia (56), Italy (53) and Bosnia and Herzegovina (82), India (87) and Tunisia (121). And this is only up to the world average. Ukraine is separated from the leader by 2.39 points — a whole institutional chasm.

For clarity, the index of economic freedom consists of five components:

1) the size of the state (Ukraine is at a rather high 48th place here)
2) legal system and property rights (104th place)
3) reliable money (131st place)
4) freedom of international trade (89th place)
5) regulation (141st place).

Thus, according to the methodology of the Index of Economic Freedom, the weakest links of the Ukrainian economy are money, regulation and the legal system. Here is the “quality” work of the National Bank and the Ministry of Economy. Here are the consequences of implementing the principle of plucking geese in “business – state” relations.

Ukraine’s neighbors in the ranking are Namibia (113th place), Haiti (114th), Burkina Faso (115th) and Sri Lanka (116th), which recently fell into default and a deep debt hole.

The 112th place is not at all about the economic policy of the countries of the European Union, which we aspire to join. 14 EU countries are in the top 30 of the Index of Economic Freedom. The most economically unfree EU country, Greece, ranks 72nd, and it is a country committed to the ideas of Marxism and socialism. With all that, Ukraine still has to work and work to have indicators at the level of Greece. If we focus on the Greek traditions of economic policy, then there is no reason to believe that after defeating the Russian evil empire, we will have an economic victory.