July 1, 2014

caboverde

The Heritage Foundation’s Charlotte Florance, Cabo Verde Prime Minister José Maria Neves, and Heritage’s Anthony Kim pose with the 2014 Index of Economic Freedom

A small island country off the coast of Africa is using The Heritage Foundation’s Index of Economic Freedom to guide its economic policies.

Heritage expert Anthony Kim reports the positive results:

Cabo Verde’s economic freedom score is 66.1, making its economy the 60th freest in the 2014 Index—The Island economy is ranked 3rd out of 46 countries in the Sub-Saharan Africa region, and its overall score is higher than the global and regional averages.

Over the 20-year history of the Index, Cabo Verde has advanced its economic freedom score by 16.4 points, a top 20 improvement. The overall increase has been broad-based in seven of the 10 economic freedoms including trade freedom, financial freedom, the management of government spending, and freedom from corruption, scores for which have improved approximately 25 points or more.

Kim and Charlotte Florance visited Cabo Verde recently to meet the country’s prime minister, José Maria Neves. Kim and Florance were interviewed and featured on the country’s major news outlets, reporting the good news about the country’s upward economic status:

Achieving its highest economic freedom score ever in the 2014 Index, Cabo Verde has advanced well into the ranks of the “moderately free.” While moving toward higher levels of economic freedom, it has made considerable progress in income growth and poverty reduction. The government continues to support policies that promote free trade and open markets.

The Index, produced in conjunction with the Wall Street Journal, measures how 178 countries around the globe stack up on eight key factors that influence economic freedom.

Have you traveled to any countries that rank poorly on economic freedom? Tell us what it was like in the comments.

Comments (3)

Rich Walker - July 4, 2014

We travel and work in Spain. Of course you know that Spain has 25% unemployment. Their equivalent to social security taxes are paid entirely by the employer and are 30% of the employee’s salary (instead of the 7.5% by both employer and employee in the US). We think the crisis has passed in Spain because the government’s borrowing rate has decreased, but the people are in still in a very bad place. The government passed their obligations on to the people. One way they did this is through a 21% IVA on many products, including electricity. We have helped a friend pay their electric bill because they couldn’t afford it with such a high tax rate levied against it!

Bryan - July 4, 2014

Taxing internet purchases is strictly another attempt to protect big business, steal yet more wealth from average Americans who typically purchase more frequently online than their wealthy counterparts and redistribute to whomever the current administration deems worthy.

internet as well as many other forms of taxation should be banned permanently.

rick baldwin - July 4, 2014

I was recently in Aruba which was prohibitively expensive-I didn’t see it listed.
Also Bali,Indonesia which considers itself separate from Jakarta is cheaper than dirt,the people all running their own show & very happy. They put the public bus out of business & seem to take care of things without cops or much governance.

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