SA improves 2018 Index of Economic Freedom
In terms of economic freedom, the Heritage Foundation indicates that with a world rank of 77/180, South Africa is 4th in the African region.
BRAND South Africa has welcomed South Africa’s improvement in the 2018 Index of Economic Freedom.
This comes after the Heritage Foundation ranked South African 77th out of 100 world countries in terms of economic freedom.
In terms of economic freedom, the Heritage Foundation indicates that with a world rank of 77/180, South Africa is 4th in the African region. The country’s over-all economic freedom score improved with 0.7 in 2017.
Read also: SAA announces extra flights between Ghana and the US
General manager for Research for Brand South Africa, Dr Petrus de Kock, said the index provides some insight into dimensions of the South African economic environment as the country continues to grapple with historical challenges, and the need to spur on entrepreneurship and innovation.
“Notable improvements for South Africa in 2018 include the improvement in the area of investment freedom, and judicial effectiveness. The latter is significant coming in a year where the administration of President Ramaphosa made investment a key focal area of its work,” said de Kock.
“We are pleased with the upward trend of the nation’s competitive performance, particularly since 2018 saw a declining global competitiveness of the economy, and South Africa also slipped into a technical recession during the first half of the year which it moved out of after the economy saw a 2.2 per cent rebound in the third quarter.”
Read also: What to do if lose your SA passport abroad
Released on an annual basis by the Heritage Foundation, the Index of Economic Freedom provides insight into the extent to which governments enable an open and unrestricted economic environment for citizens and businesses to operate in.
For more from Northglen News follow us on Facebook or Twitter. You can also follow us on Instagram
