The Philippines retained its stature of being a moderately free economy according to latest results from the Index of Economic Freedom. For the year 2016, the economy ranked 70th out of 186 countries, and garnered a score of 63.1. This is an improvement from the previous year’s score and rank, 62.2 and 76th place, respectively. In comparison to its neighboring countries, the economy is well-performing in terms of economic freedom, having fared better than the average score of economies in the Asia and the Pacific region (59.0). Among countries in the Asia-Pacific region, the Philippines ranked 14th. Similarly, the economy is performing at par with other countries globally, with its score slightly higher than the world’s average score of 60.7.
Title: Index of Economic Freedom 2016 by the Heritage Foundation
Researcher: Stephanie Rose E. Flores