Kazakhstan ranks among the world’s top 50 economically free countries

    Kazakhstan has improved its ranking in the updated Index of Economic Freedom of US research center The Heritage Foundation. Kazakhstan now ranks 42^nd, leaving behind Russia and Belarus, the official website of the Prime Minister of Kazakhstan reports.
    Kazakhstan has gained 69 points out of 100 (the maximum in the Index of Economic Freedom ranking), 5.4 points more than last year. Today, Kazakhstan shares 42^nd place in the ranking with Jamaica and Peru.
    A year ago, Kazakhstan ranked 69^th. Today, thanks to its economic success, Kazakhstan has managed to overtake such countries as Poland, Romania, Belgium, and Turkey.
    The rating assessed economies based on ten indicators, including the guarantee of property rights, anti-corruption, transparency and efficiency of budget spending, free trade, and labor market flexibility.
    Heritage Foundation analysts have given a positive assessment on virtually all items rated, except for labor market flexibility and financial independence.
    Experts attribute the growth to the fact that Kazakhstan has received a significant benefit from the policy of openness and flexibility of the economy over the past ten years.
    In addition, analysts say that Kazakhstan has taken a number of measures for the further growth of economic freedom.
    "In spite of the expansion of non-energy sector measures, the overall regulatory framework needs to be more streamlined in order to increase competitiveness," the Heritage Foundation said.
    Russia has also significantly improved its ranking and took 114^th place.
    Belarus was ranked 104^th. The experts agreed on the fact that the country has made little progress in deregulation, and the government’s intervention in business and control hamper the economy.