Cape Verde is the Portuguese language country with the freest economy

11 January 2013

Cape Verde has the freest economy of all the Portuguese language countries, while Timor-Leste, Angola and Sao Tome and Principe are among the countries with less economic freedom, indicates a study released on Thursday by the Heritage Foundation.

The 19th edition of the Index of Economic Freedom put together by that US research centre in collaboration with the Wall Street Journal asserts that on a scale of 1 to 100 points, Cape Verde has an economic freedom of 63.7, making it the 65th freest among the 177 ranked in the 2013 index (two places above Portugal) and 4th among the 46 sub-Saharan African countries examined.

Brazil’s score of 57.7 (0.2 points below last year) puts it in 100th place on the index, in the group of the mostly unfree.

Mozambique obtained 55 points in the Index, placing it 123rd in the ranking, worse than its 2012 score with drops in 7 of the 10 freedoms analysed, including freedom of trade, investment and control of public spending.

Guinea-Bissau scored 1 point higher than last year, with 51.1 points (138th place), with gains in control of public spending and freedom from corruption and drops in labour and monetary freedoms.

São Tomé and Príncipe ranked 153rd with a score of 48 points, down 2.2 points over last year due to declines in half of the 10 economic freedoms measured, including property rights and labour and trade freedom.

Angola ranked 158th among the 177 countries and territories in the Index of Economic Freedom and 40th among the 46 sub-Saharan African countries, obtaining a score of 47.3 points.

Timor-Leste ranks last among the Portuguese language countries and 166th in the general index with a score of 43.7 points, up 0.4 points over last year due to improvements in investment, labour and business freedom.

The top ten in this Heritage Foundation study are Hong Kong, Singapore, Australia, New Zealand, Switzerland, Canada, Chile, Mauritius, Denmark and the United States of America. Except for Singapore and Chile, their score was worse than in last year’s Index.

Macau is ranked 26th with 71.8 points. (macauhub)