Tanzania gains ground in World Economic Freedom Ranks

Tanzania has been ranked 82 in World Economic Freedom in 2015, according to a new report launched yesterday.

Last year’s ranking showed that the country has moved ten positions as compared to the previous year’s ranking (2014), which was 92.

Launching a report in Dar es Salaam yesterday, Uhuru Initiative for Policy and Education (UIPE) Executive Director, Mr Isack Danford, said that Tanzania has been among 100 nations that has economic freedom at position 82.

“The report measures economic freedom through rates of personal choice, ability to enter into market, secured private property rights, rules of law, among others by analyzing policies and institutions from 152 countries and authorities worldwide,” he said.

According to the report, people living in the nations having high rates of economic freedom enjoy high socio welfare, political and social freedom and they exist for a long time.

The report measures economic freedom in various countries by using five restrictions, including size of government, legal structure, property rights, sound money, freedom to trade internationally and regulation of credit, labour and business.

Fraser Institution has prepared Economic Freedom of the world report every year in collaboration with Economic Freedom Network and other private institutions dealing with research and educating people over ninety countries and authorities in the world.

Source: Daily News

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.