Albania’s economy ranks 53rd out of 179 countries, up from 62nd place last year, in the 2010 Economic Freedom Index, compiled by US think-tank Heritage Foundation.
The Balkan country's economic freedom score is 66.0, top for the region, with Bosnia-Herzegovina the least free, and Bulgaria the sole regional country to show a decline.
“Albania is ranked 25th most free among the 43 countries in the Europe region, and its overall score is above the world average,” the report showed.
Albania's level of economic freedom increased by 2.3 points over the past year, due primarily to trade, property rights, labour, and corruption.
Albania’s economic freedom is comparable to that of other developing Balkan states like Croatia and FYR Macedonia, the ranking showed.
Fiscal freedom, investment freedom, and financial freedom rated significantly higher than typical levels. However, Albania’s overall score was reduced by weak property rights and pervasive corruption.
Money laundering remains a major problem in the cash-based economy. A low score for property rights is largely a result of political interference in the judiciary, according to Heritage Foundation (www.heritage.org).
Source:balkans.com/
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