Pakistan leaves India behind in 2017 Index of Economic Freedom, a ranking released by USA’s No 1 think-tank, The Heritage Foundation.
With a score of 52.8 out of 100, Pakistan was ranked 141, while India, with a score of 52.6, was ranked 143.
Both countries share the category ‘mostly unfree’ and saw their scores declining since 2013: Pakistan by -2.3 points, India by -2.6 points.
Clip: Watch Wali Zahid on BOL TV live discussing 2017 Index of Economic Freedom
The bright side of Pakistan economy
Harvard predicts Pakistan GDP to grow by 5% over next 10 years
Pakistan is the world’s fastest-growing Muslim economy: The Economist
Pakistan’s unprecedented successes in stock market
Shanghai Cooperation Organisation admits Pakistan as member this year
Pakistan GDP set to grow by 5.3% by 2020: IMF
$10B TAPI natural gas pipeline to be operational in 2020
Pakistan petrol prices 18th lowest in the world
Pakistan is now world’s 40th largest economy
Worried about Pakistan’s $73B debt? You must see this
In a corruption-riddled world, Pakistan is better than one-third countries: TI
Pakistan among top 10 global improvers in World Bank’s 2017 Doing Business rankings
It’s the economy, stupid
The Index measures economic freedom in the world in four policy areas and 12 categories. This year’s Index ranks 180 countries.
Only five countries:
- Hong Kong (89.8)
- Singapore (88.6)
- New Zealand (83.7)
- Switzerland (81.5)
- Australia (81.0)
which topped the index, were designated in the ‘free’ category. Four of these are in the Asia-Pacific region.
Among South Asian countries, Afghanistan (163), Maldives (157) and Mayanmar (146) were ranked below India (143).
Bhutan (107), Sri Lanka (112), Nepal (125), Bangladesh (128) and Pakistan (141) surpassed India in economic freedom.
The four categories in which Pakistan beat India are:
- Government spending: PK🇵🇰 87.3 vs IN🇮🇳 77.4
- Business freedom: PK🇵🇰 61.2 vs IN🇮🇳 52.8
- Fiscal health: PK🇵🇰 30.8 vs IN🇮🇳 11.0
- Investment freedom: PK🇵🇰 55.0 vs IN🇮🇳 40.0
Pakistan’s travel infrastructure
Mass-transit transport in urban Pakistan starting to get a facelift
Multan gets its Metro bus service
Take a Metro bus from Pindi to Islamabad and pay 20¢
Lahore awaits its Orange Line Metro Train
e-ticketing on Green Line train from Islamabad to Karachi
Karachi to get Green Line bus service by end-2017
Karachi may have Yellow Line bus service in 2 years
Five economies earned the Index’s designation of ‘free’ (scores of 80 or above), while the next 87 are classified as ‘mostly free’ (70-79.9) or ‘moderately free’ (60-69.9).
Yet the number of economically ‘unfree’ economies remains high: 65 are considered ‘mostly unfree’ (50-59.9) and 23 are ‘repressed’ (scores below 50).
Launched in 1995, the Index evaluates countries in four broad policy areas that affect economic freedom:
- Rule of Law (property rights, government integrity, judicial effectiveness)
- Government Size (government spending, tax burden, fiscal health)
- Regulatory Efficiency (business freedom, labor freedom, monetary freedom)
- Open Markets (trade freedom, investment freedom, financial freedom)
There are 12 specific categories:
- property rights
- judicial effectiveness
- government integrity
- tax burden
- government spending
- fiscal health
- business freedom
- labor freedom
- monetary freedom
- trade freedom
- investment freedom
- financial freedom
Scores in these 12 categories are averaged to create an overall country score (image below).
Have you seen CPEC & OBOR stories on this blog?
CPEC fact sheet: 2013-2017
16 CPEC projects in Balochistan, 8 in KPK: Chinese Embassy
Chinese Embassy shares progress on CPEC projects
3 false reports about CPEC in one day far too many?
40 CPEC projects in 4 photos & 60 seconds
CPEC gets 4-layer security as Gwadar to be weapon-free
China’s world-reshaping One Belt, One Road (OBOR)
Based on an average score, each of 180 countries graded in the 2017 Index is classified as ‘free’ (i.e., combined scores of 80 or higher); ‘mostly free’ (70-79.9); ‘moderately free’ (60-69.9); ‘mostly unfree’ (50-59.9); or ‘repressed’ (under 50).
You can download the full report of 2017 Index of Economic Freedom here.
Understanding Pakistan Series
What to expect in Pakistan in 2017
Back to the future: Pakistan in 2050
Wali on Pakistan of future
Long Term Orientation in Pakistan: from Zero to 50 in 2 years
Pakistani culture through 6-D Model
Native languages in Pakistan
How future oriented are we?
How we messed up Pakistan: A series by Wali
Pakistan’s two value crimes no one talks about
Is Whatsapp your source of info? Welcome to Project Ignorance