Estonia Holds 12th Position in Table of Economic Freedom

Estonia placed 12th for the second straight year in the table of the world’s freest

economies published by the US-based Heritage Foundation, after being seventh in the table for 2006.

 Also just like in 2007, Estonia was ranked 5th out of 41 countries in the European region, whereas its overall score was much higher than the regional average.The study pointed out that the top income and corporate tax rates in Estonia are low, and business regulation is efficient. Investment is easy but subject to government licensing in some areas of the economy. Estonia’s financial sector is the most developed among the Baltic States.

Lithuania was ranked 26th and Latvia 38th in the index for 2008. Finland was in place 16.

 Hong Kong was ranked the world’s freest economy for the 14th year in a row, while secondplaced Singapore was catching up.

Half of the world’s top 20 freest economies are in Europe, led by Ireland in third place. Switzerland, the United Kingdom, and Denmark followed just behind.

Source: Estonia Today