10:34 14.02.2014

Ukraine adds three points in Index of Economic Freedom 2014 climbing to 155th position

2 min read

Ukraine was 155th in the Index of Economic Freedom 2014 among 178 countries , adding from 46.3 score in 2013 to 49.3 score graded on a scale of 0 to 100, the Bleyzer Foundation and the U.S.-Ukraine Business Council (USUBC) presented the Index of Economic Freedom 2014 in Kyiv on Thursday published by the Heritage Foundation and the Wall Street Journal.

According to the study, Ukraine is between Haiti (156th with 48.9 score) and Lesotho (154th with 49.5 overall), climbing from 161st position in 2013 among 177 countries.

Managing director of Sigma Bleyzer Investment Company (Kyiv), which is part of Sigma Bleyzer LLC (the United States), Oleh Ustenko, said that Ukraine's score in the Index of Economic Freedom 2014 is direct average, but it loses to the pace of growth in the indicators of other countries over the past 10 years.

"The main signal is that Ukraine's overall score around 50 is in line with the medium score if we consider the grade from 0 to 100. The country could have been an absolutely average country in the world ten years ago, but the situation has changed," he said.

Ustenko said that now Ukraine is worse than other countries in the improvement of scores in the Index of Economic Freedom due to the slow reformation.

"Today, the average level of economic freedom in the world is around 60, while Ukraine remained at 50. This is not because we did not do anything, this means that other countries did more than we did," he added.

He said that Ukraine will invest large efforts in the realization of reforms and fight corruption to improve its score in the Index of Economic Freedom, as small steps in these directions will not bring a good result.

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