Commodities

A low tax burden adds to Hungary’s economic freedom, but corruption remains an issue and state finances are under pressure. Economic performance has outpaced peers and unemployment is low, but inflation remains very high and will adversely impact…

This report examines inflation levels and drivers globally and in key countries. Global inflation is moderating, although divergence among the key economies increases. Higher volatility in the energy markets and disruption of agricultural commodities…

The global economy remains in the midst of a significant slowdown in Q3 2023. Economic activity is dampened as businesses and consumers globally face persistent inflation and further rises in interest rates in most countries. However, strong labour…

South Africa’s political landscape continues to be unstable, hindering economic freedom, whilst social unrest negatively impacts peacefulness. Although inflation is falling, the power crisis is adversely affecting economic development and…

With its very low tax burden and strong state finances, Bulgaria enjoys economic freedom, although political instability has been common. High inflation is adversely affecting the economy, but joblessness remains low. Although skills shortages are…

Although economic freedom is improving, the rule of law in Vietnam remains weak. Strong economic recovery has outpaced regional peers and inflation is not a major issue, but the external sector is susceptible to supply and demand shocks. Higher…

With a very low tax burden and reforms aimed at the business landscape, the United Arab Emirates (UAE) enjoys economic freedom, although the state’s grip on society continues. Oil production cuts will moderate economic growth in the short term, but…

The report analyses the economic state of Sub-Saharan Africa. It seeks to assess the opportunities in the region against the backdrop of its young, large and fast-growing population, as well as the bottlenecks Sub-Saharan Africa faces, including…

Economic freedom is negatively impacted by authoritarianism in China, with the state becoming increasingly repressive. The zero-COVID-19 policy has adversely affected the economy, but removal of restrictions could result in strong short-term…

Turkey is facing rising authoritarianism, along with the undermining of its secular society and democracy. Earthquakes in early 2023 are to negatively affect economic development considerably and increase state spending, whilst they have also clouded…

Thailand is prone to bouts of political instability, which has adversely affected economic freedom. Moreover, the military’s stranglehold and the influence of the monarch over politics have weakened the rule of law. Returning tourism has helped to…

Political opposition and civil liberties are restricted in Saudi Arabia, whilst its economic freedom continues to face challenges. The economy has performed strongly, but is set to slow down and reliance on oil remains high, although inflation is…

Pakistan’s ‘repressed’ status for economic freedom is largely due to political instability and the undue influence of the military. The economy performed better than peers, but suffers from high inflation and interest rates that suppress growth,…

Weakness in the rule of law negatively impacts economic freedom in Kazakhstan and the state’s authoritarian tendencies remain, but government finances are solid. Although the economy is set to perform relatively well, the export base is undiversified…

China’s increasing influence on Hong Kong’s political scene continues to undermine democracy. The economy is expected to recover well and inflation is under control, but the currency’s peg to the US dollar is leading to higher borrowing costs.…

Democracy has seen progress in Colombia, but the rule of law is weakened by organised criminal factions. Although slowing, the economy has outperformed peers, but the country is grappling with high inflation and reliance on oil remains substantial.…

Economic freedom is lacking in Argentina and the political landscape is unstable, whilst corruption continues to infiltrate the highest echelons of power. Hyperinflation is causing economic pain; however, currency weakness could help exporters. A…

Canada’s political stability and solid economic freedom form the foundations for strong private sector development. The economy will slow in the short term, whilst the country remains prone to global commodity price changes and is overly reliant on a…

The global energy crisis has had far-reaching implications for consumers, businesses and entire economies, highlighting the importance of the global energy transition and boosting energy efficiency, while creating opportunities for innovation and…

Although the tax burden is reducing, the Philippines remains ‘mostly unfree’ for economic freedom and geopolitical tensions are growing. Solid remittances helped the economy to outperform peers and infrastructure upgrades could support output…