Kazakhstan falls in global economic freedom ranking
Kazakhstan ranked 68th, down 10 places from the previous ranking, in the 2024 Economic Freedom of the World report published by the Fraser Institute, a Canada-based think tank. At the same time, Russia fell 15 spots to 119th. Hong Kong and Singapore were recognized as the most economically free jurisdictions, with Switzerland in third place and the U.S. ranking fifth.
Based on the most recent comprehensive data available from 2022, the report highlights that, on average, global economic freedom increased from 2000 to 2019 but declined over the past three years, erasing more than a decade of progress.
The Economic Freedom of the World index measures the degree to which people in 165 jurisdictions worldwide can make their own economic choices. According to the data, countries with high levels of economic freedom have GDP per capita that is 7.6 times higher and the poorest 10% of their population earn eight times more than those in less free countries.
«In the most economically free places, the average person can expect to live about 16 years longer than in the least free places. These countries also have cleaner environments and a greater tolerance for other genders, minorities and immigrants,» the report stated.
Conversely, in the least economically free countries, the infant mortality rate is nine times higher, extreme poverty is 30 times more prevalent and child labor is 2.5 times more common. Corruption is also more widespread, and only 78% of girls aged 15 to 24 are literate.
