Philippine Ranking in Economic Index

Malacanang on Monday lauded the Philippines’ improvement in the Heritage Foundation’s 2013 Index of Economic Freedom as the country jumped 10 notches in ranking. “The Philippines jumped 10 notches in ranking, making our economy the 97th freest in the world with an Economic Freedom Score of 58.2 in contrast to last year’s ranking of 107th with a score of 57.1,” said Presidential Spokesman Edwin Lacierda. Among Southeast Asian nations, Lacierda said, the Philippines recorded the highest score improvement of 1.1 points — “a trend of continuous growth over the past two years, bringing our country even closer to the world average score of 59.6 and above the Asia-Pacific regional average of 57.4.” In its 2013 Index of Economic Freedom, the Washington-based Heritage Foundation said the Philippines’ economic freedom ranking in 2013 is the highest since 2006 when the country ranked 96th. In the Asia-Pacific region, the Philippines ranked 17th out of 41 countries even as its overall score was slightly below the world average. The report noted the country’s improvements in investment freedom and freedom from corruption, outweighing a decline in business freedom, labor freedom and monetary freedom.

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