Economic Freedom Index; Iran Ranks 160th Among 165 Countries in the World

A Canadian think tank specializing in economic freedom has classified Iran’s economy among the world’s closed economies and announced that Iran ranks 160th among 165 countries in the world in this regard.

According to the Fraser Institute’s assessment, only five countries—Zimbabwe, Algeria, Libya, Sudan, and Venezuela—rank lower than Iran.

Based on studies by this Canadian institution, countries where less than five percent of their population has access to electricity (such as the Democratic Republic of Congo), or are engaged in internal conflict (such as Yemen), or rank among the world’s poorest nations (such as Burkina Faso), have obtained a better position than Iran from the perspective of “economic freedom.”

The Fraser Institute identifies four main indicators for economic freedom: 1. Individual choice, 2. Voluntary economic exchange that takes place within the framework of “markets,” 3. Freedom of entry into markets and competition in markets, and 4. Protection of individuals and their property against violence and infringement by others.

Source: Radio Farda