PH up 10 notches in ‘economic freedom’ list

Country remains in ‘mostly unfree’ category

A+
A
A-

This handout photo taken on Oct. 29, 2012, shows former President Gloria Arroyo (right) accompanied by family members including her husband Mike Arroyo (2nd right), daughter Luli (3rd left), son, legislator Dato (2nd left), and party-list legislator Mikey (left), attending her arraignment on corruption charges at the anti-graft court in Manila. The government’s anti-corruption efforts helped push the Philippines’ global ranking in terms of economic freedom by 10 notches to 97th among 177 countries and territories. AFP PHOTO/ERNESTO LASIG / PNP-PIO

The government’s anti-corruption efforts helped push the Philippines’ global ranking in terms of economic freedom by 10 notches to 97th among 177 countries and territories.

This was according to the editors of the 2013 Index of Economic Freedom, jointly released by Washington D.C.-based The Heritage Foundation and The Wall Street Journal.

Based on the latest annual index, the 19th since it first came out in 1995, the Philippines scored 58.2 out of 100 points.

Such score keeps the Philippines in the category of “mostly unfree” countries or those within the range of 50 points to 59.9 points.

“(The) score is 1.1 points higher than last year, with notable improvements in investment freedom and freedom from corruption outweighing a decline in business freedom,” the editors said in a statement.

They added that such score was below the global average of 59.6, but noted that the Philippines’ improvement provided contrast to the world’s 0.1 point gain.

“The global advance toward economic freedom has ground to a halt,” they said. “Since reaching a global peak in 2008, economic freedom has continued to stagnate.”

Even then, the editors observed an overall positive trend in 2012, with 91 countries improving their scores compared to 78 that declined.

As for the Philippines, they noted that the government has pursued a series of legislative reforms toward an improved business environment that encourages broader-based job growth.

Still, the editors said Philippine institutions needed “deeper commitment to reform.”

“Although the perceived level of corruption has declined in recent years, more effective anti-corruption measures need to be institutionalized,” they said.

“The inefficient judiciary remains susceptible to political interference and does not provide strong and transparent enforcement of the law, undermining prospects for long-term economic development,” they added.

The index takes into account 10 criteria, including property rights, freedom in trade and financial freedom—of which the Philippines’ record showed no change from the previous year. This suggested a need for improvement in terms of market liberalization.

The country improved in terms of government spending, freedom from corruption, fiscal freedom and investment freedom.

However, the Philippines worsened in terms of business freedom and freedom in trade. This meant that the regulatory environment has become more inefficient.

Hong Kong remained the “freest” economy for the 19th time with 89.3 points. Mainland China placed 136th while Taiwan ranked 20th.

There were only four others in the league of “free” economies or those with scores of 80-100. These were Singapore, Australia, New Zealand and Switzerland.

North Korea retained its bottom rank at 177th with 1.5 points, improving from the previous one point. It was among 32 other “repressed” countries, all scoring less than 50 points.

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • Pwe Jade

    Ok, what about the corrupt individuals roaming like crocodiles in the city.

    A small-time (but thinking he is big-time) house builder in Tierra Pura, QC by the name of Alfredo and Carmelita Pujeda.
    Evade paying taxes, skip applying for permits (building, safety), bully workers, manipulate buyers and most of all falsify documents.

    Recent houses built in West Lane, Jem 2 Subdivision in Pasong Tamo, QC.

    Tell your friends to be warned about this PUJEDA.  Christine Perez (Project 8) serves as their willful agent. 

    Desired targets:  OFWs house hunting.

  • http://joboni96.myopenid.com/ joboni96

    ‘Philippines in the category of “mostly unfree” countries’

    GOOD

    yan pa nga laang
    hawak na ng
    dayuhan at intsik switik
    ang ekonomiya natin

    1. bumiputra law
    2. anti trust law
    3. strict implementation of immigration law

    to rollback intsik switik
    control of our economy

  • Your_King

    Surveys are nice but where is the money? I mean, these are all nice theoretical data but where are the investments. Where are the newly created jobs? Where is the data that the Philippines has minimized the problem of poverty? A 1.1 point improvement is not bad but let’s be honest, it’s still only 1.1…with all the time and money that Aquino has placed on fighting corruption an increase of 1 is nothing big. People say stay positive but it’s been 3 years since the Aquino Administration took over and all they have to show is 1.1 improvement?

    • Diablo_III

      Sige lang hindi naman mabura yung ginawa na katarantadohan ni Pandak at FG CROC the LACOSTE…kaya ang PINAS naghihirap pa rin dahil sa mga buwaya na yan…

      • Your_King

        As a matter of fact, the previous Administration has had significant gains for the Philippine economy during PGMA. She helped steer the country away from the Global economic collapse. Don’t hate…appreciate.

    • http://profile.yahoo.com/L3KABDJJPFROHYVECRHJTEBNYU Luigi

      Akala mo naman madali makakuha ng improvement dito…Nakita mo b kung saan kinukuha yang 1.1 n sinasabi mong maliit? At leat hindi katulad nung panahon ni Great Nunal kung saan lumagapak ang score natin dyan.

      • Your_King

        1.1 is not bad. But if you are being honest with yourself…with all the time and money and energy being spent on this issue, a 1.1 increase may not be bad but far from good. Aquino is underachieving.

  • Diablo_III

    Yang nasa picture diyan o ang dahilan.. Grabe talaga si FG CROC the LACOSTE….

  • http://profile.yahoo.com/ZUGKMNYSK2ZSSS4B2LVNDWP5XM lagalag

    Yong mga crab and epal diyan, matuwa naman. Puro kayo Nega, sana maging masaya naman kayo sa magandang balita.

    Go for more progress Pinas.

  • http://pulse.yahoo.com/_QSBNZB3TEKHJE5A74STZTTUHC4 ed0408

    The Arroyos will be like the Marcoses who are absolved of their wrongdoings in a year or two. Filipinos have very short memory span. Most of the Filipinos have the Alzheimer’s disease if there is a crisp 500 to 1,000 bill on their hands during election. These are the people who will drag the Philippines to hell like what Pres. Quezon wants to happen.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement

popular

advertisement

videos