WASHINGTON – Reflecting a drop in levels of economic freedom around the world, the Philippines slid in the global rankings to 89th place from 76th previously among 141 countries surveyed, the Economic Freedom of the World: 2011 annual report said.
The country’s score fell to 6.46 from 6.77.
“In response to the American and European debt crises, governments around the world are embracing perverse regulations and this has huge, negative implications for economic freedom and financial recovery,” said Fred McMahon of the Fraser Institute, Canada’s leading public policy think-tank.
The report showed that the average economic freedom score over the past two years fell to 6.64 in 2009 from 6.74 in 2007.
The ratings for 2009, the most recent year for which comprehensive data are available, showed Hong Kong at the top of the rankings for economic freedom worldwide with a score of 9.01 out of 10.
Singapore was in 2nd place with a score of 8.68 followed in order by New Zealand (8.20); Switzerland (8.03); Australia (7.98); Canada, (7.81); Chile (7.77); United Kingdom (7.71); Mauritius (7.67); and the world’s largest economy, the United States (7.60).
The US, previously ranked in 6th place, fell to 10th place primarily as a result of higher government spending and borrowing
Zimbabwe was in last place among the 141 countries surveyed with a score of 4.08. Myanmar, Venezuela, Angola, and Democratic Republic of Congo rounded out the bottom five nations.
Singapore was the best ASEAN performer in the world rankings in 2nd place followed by Thailand (65th ), Malaysia (78th), Indonesia (84th) and the Philippines (89th).
The annual Economic Freedom of the World report is produced by the Fraser Institute, Canada’s leading public policy think-tank, in cooperation with independent institutes in 85 nations and territories.
Economic freedom is measured in five different areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally and regulation of credit, labor and business. –Jose Katigbak, The STAR Washington Bureau (The Philippine Star)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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