2013 Index of Economic Freedom: Mauritius ranked among the Top Ten
January 15, 2013: Mauritius is the only Sub-Saharan country to rank among the top ten economies out of the 177 countries rated by The Heritage Foundation and The Wall Street Journal in its 19th annual Index of Economic Freedom, released on January 10. With a total economic freedom score of 76.9, Mauritius’ economy is placed at the 8th position, ahead of Denmark (9th), the United States (10th), and is also the first out of 46 countries in the Sub-Saharan African region, which is well above the world average score which stands at 59.6.
The overall score of Mauritius is essentially the same as last year, with improvements in property rights and labour freedom counterbalanced by declines in freedom from corruption and monetary freedom, says the Index.
According to the Index of Economic Freedom (IEF), by maintaining its status as one of the world’s 10 most free economies, Mauritius continues to be a global leader in economic freedom. It further highlights that all the pillars of economic freedom are solidly maintained and that the small island economy benefits greatly from a sound and transparent legal framework that strongly upholds the rule of law. As reported by IEF, budgetary reforms remain largely on course, keeping public debt and budget deficits under control despite expansionary fiscal policy since 2008.
Other factors underpinning the ranking of Mauritius are namely: the stability of the business climate and a dynamic entrepreneurial environment; barriers to free trade are low, and commercial operations are aided by efficient regulations that support open-market policies; inflationary pressures are under control, and a good flow of foreign investment.
Regarding the world average score of 59.6, it is observed that the score is only one-tenth of a point above the 2012 average and notes that since the world economy has reached a global peak in 2008, economic freedom has continued to stagnate. However, the overall trend was positive. Among the 177 countries ranked in the 2013 Index, scores improved for 91 countries and declined for 78.
Source: Government of Mauritius
Photo credit: www.mauritiusattractions.com