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Guyana’s economic freedom score is 55.7, making its economy the 121st freest in the 2014 Index. Its overall score is 1.9 points higher than last year, reflecting notable score increases in control of government spending and investment freedom. Guyana is ranked 22nd out of 29 countries in the South and Central America/Caribbean region, and its overall score is well below the world and regional averages.

Over the 20-year history of the Index, Guyana has advanced its economic freedom score by 10 points. This overall increase has been achieved by enhancements in seven of the 10 economic freedoms, notably the management of public spending, freedom from corruption, and monetary freedom, the scores for which have improved by 10 points or more.

Guyana slipped back into economically β€œrepressed” status during the late 2000s but has risen out of that category since 2012 and recorded its highest score in eight years in the 2014 Index. Nevertheless, broad-based economic growth continues to be held back by institutional weaknesses in the economy. Long-standing constraints on economic freedom include fragile protection of property rights and below-average levels of openness and integration into world markets.

 

Source Heritage Foundation

FM
Last edited by Former Member

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