Human freedom index: Albania holds 52nd spot excelling in “sound money”
Albania is in the 52nd place in the world, among the world’s 159 different countries in the newly released human freedoms index.
This report, which also contains the index, is a global measure of personal, civil and economic freedoms.
For this reason, the report divides human freedoms into two; personal and economic freedoms.
In the first, personal freedoms, Albania ranks 47th in the world, while in economic freedom it ranks 32rd in the world among 159 different economies of the globe.
The latter is then based on 5 key subindicators. Among them, Albania records the best performance in what refers to money security, or “sound Money”.
Sound money refers to the stability of money, so it describes the chances of a country’s currency to be assessed or depreciated in a short period of time.
As can be clearly seen, in this indicator, the score in all sub-indicators is very close to the maximum mark, which is 10.
The weakest indicator, meanwhile, is that of the justice system and the property right.
Here, Albania records the worst performance in the court’s impartial indicators as well as in the independence of the courts.
Not so convincing appears the indicators of regulators.
For a third year, the annual report—published by Cato, the Fraser Institute in Canada, and the Liberales Institut in Germany—paints a broad picture of personal, civil and economic freedom in the world. It uses 79 indicators in 12 areas ranging from freedom of religion to freedom to trade.
Global freedom has declined slightly compared to last year’s report and compared to 2008, the first year for which we have complete data. Switzerland is the freest country in the world, followed by Hong Kong, which fell from first place for the first time since the rankings began.
The United States is ranked 17th, up from its ranking last year of 24th, but down from its ranking in 2008 when it was in 11th place.
Other noteworthy countries rank as follows: the United Kingdom (9), Canada (11), Germany (16), Mexico (73), Russia (126), China (130), Egypt (155), Venezuela (158).
There is a strong relationship between freedom and prosperity, with countries in the top quartile enjoying an average per capita income ($38,871) that is far higher than that of the bottom quartile countries ($10,346).
SCAN
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