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Home >> Business
UPDATED: 08:36, January 18, 2007
Romania ranks 67th in economic freedom
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Romania climbed 25 positions on last year in economic freedom, ranking 67 among the 157 states covered in a study conducted by the Heritage Foundation and Wall Street Journal, reported the Rompres news agency on Wednesday.

The Romanian economy is considered to be 61.3 percent free, that is by 2.3 percentage points above the 2006 level and being thus listed in the category of the economies showing a moderate level of freedom.

In the same category there are listed the states between the 31 and the 79 positions in the ranking, such as the Czech Republic, Armenia, Slovakia, Latvia, Hungary, France, Italy or Bulgaria.

In Europe, Romania ranks 31st among the 41 states considered, with its score standing below the average value of 67.5 percent in the region.

The ranking is drawn up based on scores between 0 and 100 percent, granted according to 10 criteria.

Romania got the highest scores for the economic freedom rates in the fiscal sector, standing at 91.7 percent, in the commercial sector, 74 percent and in the financial sector, 60 percent. The income tax and the tax on the company profit is 16 percent, despite the fact that revenues from taxes have a relatively high contribution to the country's GDP, it is also said in the report.

Source: Xinhua

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