South Africa ranks 99th for economic freedom, down from 47th in 2000 (TL)
SA ranks 99th out of 165 countries and territories in the “Economic Freedom of the World” 2022 annual report, released on Thursday. This is a deterioration from last year when SA ranked 93rd in the report by the Free Market Foundation (FMF) in conjunction with Canada’s Fraser Institute. The country’s best ranking of 47th was achieved in 2000. “When jurisdictions increase taxes and regulations, the people become less economically free, which means slower economic growth and less investment,” said Fred McMahon, a research chair with the Fraser Institute.According to FMF director Eustace Davie, the reason for the decline is clearly visible in the deterioration in economic activity. “Mass unemployment is a particularly significant and tragic consequence of that deterioration,” Davie said. Click here to read full article
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