WSJ ranks Russia 153 in 2016 Economic Freedom Index

MOSCOW, Feb 1 (PRIME) -- Russia descended 10 positions and was ranked 153rd out of 178 countries in the Index of Economic Freedom in 2016 made by the Wall Street Journal and U.S. Heritage Foundation, the foundation reported Monday.

“Russia’s prospects for long-term, diversified, sustainable economic growth remain bleak. There is no efficiently functioning legal framework, and government continues to interfere in the private sector through myriad state-owned enterprises. Corruption pervades the economy and continues to erode trust in the government,” according to the statement.

The economic freedom score of Russia went down by 1.5 points to 50.6. The tax freedom decreased by 3.9 points to 82.2, the freedom from corruption decreased by 1 point to 27 and the labor freedom 1.3 to 57.6.

The countries which earn less than 50 points are classified as absolutely unfree, and from 50 to 60 points mostly unfree.

Hong Kong led in the 2016 ranking again, Singapore and New Zealand followed. North Korea was ranked the last, 178th.

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