The latest Economic Freedom of the World: 2016 Annual Report, released yesterday reveals South Africa has dropped to number 105 out of 159 countries, down from 93rd best a year ago.
FMF director Temba Nolutshungu notes South Africa has steadily lost ground over the years and is calling for major change: “It is tragic that a country ranked 42nd in the world in 2000, just outside the top 25 percent of countries in the world, should have fallen 63 places in the rankings in 15 years to a point where it now ranks in the bottom 35 percent.”
Ineng entrepreneurs need to continue their effort to call for changes that support greater economic freedom.
Entrepreneurs in Public Policy sessions reflect the positions taken at previous workshops on issues around property rights, trade and the role(and size) of government.
Economic Freedom is measured as follows, showing South Africa’s changes since last year:
- Size of government: changed to 5.54 from 5.55 in the last year’s report
- Legal system and property rights: changed to 5.79 from 5.81
- Access to sound money: changed to 8.04 from 8.17
- Freedom to trade internationally: changed to 6.71 from 7.04
- Regulation of credit, labour and business: changed to 7.11 from 7.15
- IOL – SA’s economic freedom plummets
- SABC – SA scores badly in Economic Freedom of the world report
- Heritage – Index of Economic Freedom 2016 (South Africa)
- Cato Institute: Economic Freedom of the World