IMF........................................WB................................................CIA
rank/measure..........................rank/measure.................................rank/measure
36/16,956............................30/16,271.................................39/17,138
The Czech Republic’s economic freedom score is 70.9, making its economy the 29th freest in the 2013 Index. Its overall score is 1.0 point better than last year, with substantial increases in labor freedom and the management of government spending offsetting a decline in freedom from corruption. The Czech Republic is ranked 15th out of 43 countries in the Europe region, and its overall score is higher than the regional and global averages.
The Czech economy’s ongoing transition to greater openness and flexibility has been facilitated by a decade of substantial restructuring. Open-market policies have sustained global trade and investment flows and enabled the economy to capitalize on regulatory efficiencies achieved through earlier reforms. Competitive tax rates have encouraged the development of a growing entrepreneurial sector. The government is placing a high priority on fiscal discipline and striving for budgetary balance after years of fiscal deficits.
The Czech Republic has weathered the impact of the global economic downturn and the European sovereign debt turmoil relatively well, with the economy demonstrating a high degree of resilience. However, lingering corruption increases the overall cost of doing business, and continued reform to strengthen the foundations of economic freedom will be indispensable in ensuring vibrant economic development in coming years.
