Czechia ranks 22nd in global index of economic freedom

Czechia has placed 22nd on the Economic Freedom of the World Index published by Canada’s Fraser Institute, down by four spots compared to last year, the Institute of Liberal Studies announced on Wednesday. Hong Kong has traditionally placed top of the list, while Venezuela ranked last.

The index, which has been published annually since 1996, is based on data from 2022. The delay in publication is due to the time required to collect data from all 165 countries. The index evaluates five key indicators, including the size of the state sector, rule of law, international trade, overall regulation, and the country's monetary and inflation environment.

While Czechia saw slight improvements in four of the five categories, it experienced a significant decline in its inflation environment. Despite the decline, it remains one of the more economically free countries in Central Europe.