The Fraser Institute issued its latest 2012 annual report titled “Economic Freedom of the World”, in which it noted that Bahrain took the seventh position amongst 144 countries globally and the first one amongst 12 countries within the MENA region in terms of economic freedom.
The index evaluated individual economies on the basis of variables that were divided into broad categories of economic freedom. The factors are: size of government at the level of expenditure, taxes and enterprises; commercial and economic law and security of property rights; access to sound money; freedom to trade internationally; and the regulation of credit, labor, and business. Individual country scores were computed by averaging the scores of the five factors, with the highest possible overall country score at 10 points.
This year, Bahrain held the top spot with a numerical score of 7.94 points. The UAE came next ranking 11th globally with a score of 7.83 points. At the other end of the regional scale were Syria and Algeria which ranked 119th and 137th globally with scores of 6.08 points and 5.34 points, respectively.
Mena Weekly Monitor – Bank Audi