Economy, Business And Markets

Economic Freedom Index Rises

Economic Freedom Index RisesEconomic Freedom Index Rises

Iran’s economic freedom index grew 1.7 points compared to last year and reached the overall score of 43.5, reported the Heritage Foundation in its recently published 2016 Index of Economic Freedom. The positive change in overall score has not affected the country’s world ranking, maintaining the 171th position among the 186 countries cited in the index.

The index, according to the foundation’s website, is measured based on 10 quantitative and qualitative factors, grouped into four broad categories of rule of law, limited government, regulatory efficiency and open markets graded on a scale of 0 to 100.

A country’s overall score is derived by averaging these 10 economic freedoms. The Heritage Foundation is an American conservative think tank based in Washington, D.C.