Peru in the top third of the world’s freest economies, according to the Heritage Foundation

Peru ranks 50 of the freest economies in the world, according to the Index of Economic Freedom 2021 (Index of Economic Freedom 2021, by its translation from English) from the Heritage Foundation.

According to the ranking that measures twelve indicators over 178 nations, created by The Wall Street Journal and the Heritage Foundation, Peru’s economic freedom score is 67.7, which makes its economy the 50 freest in the 2021 index .

Between the balance sheet and the economic projections, by José De Echave

However, its overall score has decreased by 0.2 points compared to 2020, mainly due to a “decrease in judicial effectiveness”.

Peru ranks seventh out of 32 countries in the Americas region, and its overall score is above regional and world averages. Precisely, among the aspects that hampered Peru’s progress in the final count, the “need to carry out more reforms in the labor code” is pointed out.

In continental America, our country is only surpassed, in this order, by Canada, Chile, the United States, Uruguay, Jamaica and Colombia, the latter in 49th place globally, one ahead of Peru.

This Friday the 31st the deadline to withdraw 100% of the CTS expires

“The Peruvian economy remains again in the upper reaches of the moderately free category this year despite ongoing political turmoil. Two weaknesses identified by the index that continue to limit economic freedom include a relatively weak rule of law, reflected in the property rights, judicial effectiveness, and government integrity index scores, and the need for further reforms to the labor code. ”, Says the report.

Worldwide, Peru is above other nations such as France (64), Portugal (52), Hungary (55), Panama (62), Russia (92) and Brazil (143), among others.

Index of Economic Freedom: what is it?

The Index of Economic Freedom is a series of twelve indicators created by The Wall Street Journal and the Heritage Foundation. Its stated objective is to measure the degree of economic freedom in each country in the world, that is, the level of market economy that a country supports.

The ranking scores data between 0 and 100, where 0 means “absence of economic freedom” and 100 means “total economic freedom”. The twelve aspects mentioned are divided into four categories: rule of law, size of government, regulatory efficiency, and open markets.