BRATISLAVA, January 12, (WEBNOVINY) — Economic freedom in Slovakia has been deteriorating fast. At least based on the latest economic freedom index released by the Heritage Foundation, according to which Slovakia lost 2.5 points in the ranking to 67 points, which was one of the ten worst annual falls among all nearly 180 countries. Slovakia thus dropped from the 37th place in 2010 to the 57th spot last year. The decrease in Slovakia’s score last year related to perception of corruption.
Economic freedom reached its peak in 2008 and since then has had a declining tendency, the Heritage Foundation comments. Outlook for long-term economic development is limited due to inefficient fight against corruption and weak political commitment to strengthen the rule of law framework, the foundation adds. Fiscal discipline with growth of government expenditures and halted privatization did not help Slovakia’s score last year.
In evaluation of the judiciary, Slovakia maintained the same score in evaluation of protection of ownership rights, but corruption seems to be a deepening problem. In the evaluation of corruption perception, Slovakia lost two points from the previous year to 43 points and sank by five places to 60th in evaluation of this indicator. Another problem are lengthy court proceedings and firmly rooted corruption in the judiciary.
Hong Kong held on to its top position in the ranking with 89.9 points. Regarding Slovakia’s neighbors, the Czech Republic was the most successful, when it ended at the 30th place with 69.9 points, followed by Hungary placing 49th with 67.5 points. Poland placed after Slovakia at the 64th spot.
SITA
