KUWAIT'S ECONOMIC FREEDOM INDEX HAS DROPPED

  • 18/02/2022

Kuwait City: Kuwait has dropped 27 places to 101st place in the International Heritage Foundation's 2022 Index of Economic Freedom. Kuwait was rated 74th in the world in 2021. After the United Arab Emirates, Qatar, Bahrain, Jordan, and Morocco, it was placed eighth in the Arab world. Kuwait received a score of 58.3 out of 100 in the general index. It has a higher overall score than the regional average but a lower overall score than the worldwide average.


Kuwait's economy was classified as "largely unfree" by the index. In its classification of 177 countries, the index is based on four primary elements. 

They are as follows:

1. Property rights, judicial efficacy, and government integrity are all covered under the rule of law.

2. The free market, which entails investment, trade, and financial liberty.

3. The regulatory environment's efficiency, which includes freedom of commerce, freedom of money, and freedom of labour.

4. Government size, which includes the tax burden, government spending, and financial stability.

With the exception of tax burden, financial soundness, investment freedom, and financial freedom, Kuwait's ranking decreased in each of these sub-indicators compared to the previous year's grade.

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