Nepal makes some progress in economic freedom

An international survey report has shown that Nepal has made some progress in terms of economic freedom.

The annual report 'Economic Freedom of the World: 2012' published by the Fraser Institute of Canada, shows that economic freedom has improved to some extent worldwide and Nepal is part of that.

Nepal figures in 110th position with a score of 6.33 among the 144 countries.

Although Nepal has made improvement in its overall position, still it is considered among the countries with the least economic freedom.

Out of the five indicators for measuring the economic freedom, Nepal has made progress in some while doing worse in some others.

The indices used in measuring the economic freedom of a country are the size of the government, access to sound money, freedom to trade internationally, the legal system and property rights and regulation of credit, labour and business.

According to the report, Hong Kong ranks in the highest level of economic freedom worldwide, with a score of 8.90 out of 10, United States in 18th, Japan in 20th, China in 107th and India 111th position. Venezuela has the lowest level of economic freedom among the 144 countries.

The annual report is published in conjunction with the Economic Freedom Network, a group of independent research and educational institutes in 90 nations and territories worldwide. nepalnews.com