Oman improving on 'economic freedom' league table
Oman ranked 45th globally in the 2013 Index of Economic Freedom, moving up two notches from 47th last year. The sultanate ranked fifth out of 15 countries in the Middle East and North Africa (MENA) region.
Economic freedom continued to decline last year in the MENA region, according to the 2013 Index of Economic Freedom report, published annually by The Wall Street Journal and The Heritage Foundation.
“Oman's score is slightly higher than last year, with significant declines in trade freedom, freedom from corruption and labour freedom mitigated by a major improvement in the control of government spending. Oman's overall score is above the world and regional averages,” the report said.
Hong Kong and Singapore finished first and second in the rankings for the 19th straight year. Australia and New Zealand ranked third and fourth, with Switzerland fifth this year.
Bahrain, Qatar and the UAE ranked first, second and third in the MENA region, respectively, while Jordan secured fourth place, ahead of Oman.