Poland advances in economic freedom ranking
PR dla Zagranicy
Roberto Galea
27.01.2015 16:12
Poland improved its standing in ease of making business, according to a report by the Index of Economic Freedom and the Wall Street Journal.
This year, Poland stood in 42nd place, moving up eight places over last year.
The growth was “driven by improvements in half of the 10 economic freedoms, especially freedom from corruption, fiscal freedom, the management of government spending, and monetary freedom,” the report read.
Among its European peers, Poland was ranked 19th out of 43 countries in the region, and its overall score is above the world average.
“While Poland’s transition to a market-based economy has accelerated, some structural foundations still need reinforcement,” according to the report.
“The labor market remains rigid, and business regulations still lag behind standards in some Western and Northern European countries. Enforcement of the rule of law is hindered by delays in the court system. Membership in the European Union helps to ease trade restrictions and attract investment, and openness to capital contributes to a budding financial sector.”
Hong Kong was deemed the freest nation worldwide, whilst Switzerland led in Europe. (rg)