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…

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…

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…

Economic freedom in Japan continues to benefit the private sector, as does limited corruption, but fiscal health remains weak. Unemployment is low, but the economy faces external forces that are weakening its performance. Ageing and depopulation…

Although corruption is a problem, the Czech Republic has strong adherence to economic freedom and solid government finances. Economic growth is set to slow amidst persistent inflation, but the foreign investment landscape is vibrant. Whilst…

Weakness in the rule of law is negatively impacting economic freedom in Nigeria, as does pervasive corruption. Significant reliance on the oil sector can lead to volatile economic development, whilst persistently high inflation is adversely affecting…

Singapore’s economic freedom is the best in the world, although civil liberties are restricted and corruption is on the rise. Economic momentum is slowing and the external sector is susceptible to global cyclical changes, but inflation is well…

Authoritarianism and corruption mar Iran’s economic freedom, which is repressed, but regional relations are improving. Sanctions are expected to continue to weigh heavily on the economy, which is exacerbating currency weakness and adding to…

Azerbaijan’s authoritarian tendencies undermine democracy, whilst tensions with neighbours are increasing. Maintenance in the oil sector adversely affected the economy and the sector’s dominance continues to result in limited export diversification.…

Whilst some aspects of economic freedom require improvement and corruption is growing, as is political instability, Belgium enjoys a strong rule of law. Inflation has been falling, but the economy is underperforming the peer average, although it is…

Candidacy for European Union (EU) membership could improve Bosnia and Herzegovina’s (BiH) economic freedom, although corruption is pervasive. The country has a relatively diversified economic base and whilst inflation is moderating, the economy is…

Conflict and corruption blight Cameroon’s political landscape and have kept economic freedom depressed. Nevertheless, the economy exhibits strength in the face of global challenges, but inflation remains elevated and reliance on hydrocarbons is…

Although state finances are set to improve through higher taxation, economic freedom is challenging and corruption persists. Owing to lower agricultural output, the economy has slowed down markedly, but inflation is under control and fertiliser…

Although South Korea enjoys significant economic freedom, corruption amongst high-ranking officials is a blot on its political scene. Inflation is low and a trade deal could help exports, but the economy is slowing and foreign investment could be…

Switzerland is one of the world’s most democratic countries, with extensive economic freedom and strong state finances. Although inflation is under control, economic growth is set to slow further. Consumer market appeal continues to be supported by…

Although economic freedom is slipping, the Dominican Republic enjoys political stability, but corruption remains endemic. Economic performance has been solid, but is slowing and remains dependent on tourism, whilst the country continues to attract…

Although the tax burden is increasing, the Netherlands continues to enjoy significant economic freedom and solid state finances. High prices have negatively impacted economic momentum, but inflation is falling and unemployment is low. The quality of…

The United Kingdom’s (UK) political landscape has been volatile, whilst Brexit continues to weigh on economic freedom. Owing to high inflation that has eroded consumer purchasing power and business investment, economic output is set to slow markedly,…

Although Venezuela is repressed for economic freedom and suffers from endemic corruption, possibilities of restructuring its significant debt pile have emerged. The economy remains massively reliant on oil and is slowing, whilst hyperinflation…

Political stability and better government finances are adding to economic freedom in Costa Rica, but corruption is on the rise. Foreign investors continue to flock to the country, but the economy is moderating and prices are falling. Discretionary…