Economy, Finance and Trade

Political instability is frequent and Kyrgyzstan fell into ‘mostly unfree’ for economic freedom ranking. Economic growth is forecast to be slower than peers and below the pre-pandemic levels. Population growth will add to consumer market appeal and a…

Frequent government changes have led to political instability in Kuwait and corruption is pervasive, although state finances remain in rude health. A strong economic performance is due to high oil prices, as well as solid domestic demand, but…

Kosovo has suffered from significant political instability, whilst corruption is pervasive. Nevertheless, European Union (EU) accession is on the cards and the economy is expected to outperform peers in the near term. The consumer market remains…

Although Kiribati enjoys political stability, a lack of business freedom has resulted in a poor ranking for economic freedom overall. Its narrow economic base prevents employment creation, resulting in high joblessness, whilst it is also highly…

Although economic freedom is limited and endemic corruption persists, international assistance is helping government finances in Kenya. Whilst economic growth is slowing, adversely impacted by high inflation, infrastructure upgrades will be…

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…

Although Jordan’s tax burden is relatively low, limited economic freedom hinders private sector progress and state finances are stressed. Economic recovery is continuing and inflation is very low, but the foreign investment climate faces challenges…

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 generally stable and democratic, Jamaica is failing to control organised crime and corruption. Economic growth swiftly returned after the pandemic, but the country is over-reliant on the US. Consumer expenditure is growing, but ageing,…

Italy’s high public debt is a threat to stability and negatively affects economic freedom, but anti-corruption legislation has been reinforced. Economic growth is forecast to be subdued, as rising borrowing costs bite, and foreign investment is…

Although Israel enjoys economic freedom, the war with Hamas is weighing on the country’s economic outlook. A resilient economy is slowing, as higher defence spending burdens state finances and business activity is interrupted by the conflict, but…

As one of the freest countries in the world, Ireland’s private sector enjoys considerable economic freedom, whilst state finances are solid. Robust economic momentum is giving way to a slowdown, as inflationary pressures persist, although exports…

Although state finances have been improving, Iraq suffers from significant corruption and external interference in its domestic affairs. Inflation has been well controlled, but lower oil production could plunge the economy into recession in the short…

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…

Recent policies are eroding democracy and corruption is rife, although economic freedom has improved in the short term. The economy has proven to be resilient, helped by higher exports, whilst inflation is moderating and the prospects for foreign…

India has a relatively stable political environment, but discrimination of minority groups is on the rise and the country has weak state finances. Economic development has outpaced peers and prospects for international trade are positive, although…

Iceland benefits from its low levels of corruption, political stability and economic freedom. The economy is set for a strong performance, leans heavily on sectors like tourism and fishing, alongside a stable currency and progressive tax incentives…

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…

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.…

Violence mars Honduran society and economic freedom, although state finances continued to improve. Economic momentum is slowing, as exports and remittances growth slow, but lower inflation will ease the pressure on households. Whilst the population…