MANILA – The Heritage Foundation’s 2014 Index of Economic Freedom ranking the Philippines as the 89th freest in the world strengthens the Aquino administration’s resolve to continue implementing reforms, Presidential Spokesperson Edwin Lacierda said.
“The Heritage Foundation’s recently released 2014 Index of Economic Freedom is yet another affirmation of the gains that our country is reaping along the straight path,” he said.
Lacierda said the country has jumped eight more notches, from 97th in 2013, to 89th this 2014. “This jump reflects the significant improvements that our country has made in seven of the ten economic freedoms, including significant gains in investment freedom, business freedom, monetary freedom, and the control of government spending,” he said.
The Heritage Foundation also cited the “high degree of resilience of the economy” as well as the legislative reforms that have been laid down “to enhance the investment environment and incentivize broader-based private-sector job growth.”
The factors were also cited in the 2013 report, displaying the government’s consistency in its reform agenda.
The Index of Economic Freedom rates 186 countries in 10 categories of economic performance which include rule of law, regulatory efficiency, limited government, and open markets. The Index promotes individual empowerment, free and open competition, government transparency, and equal opportunity for all.
“It is worth noting that the data used in the 2014 Index were based mostly on 2012 statistics. We believe that there have been significant improvements since then despite the challenges we had to overcome as one nation,” Lacierda said.
“The positive results of this evaluation only strengthen our administration’s resolve to continue implementing reforms founded on good governance and true public service, which are necessary prerequisites to fostering lasting and inclusive growth in the Philippines.”
20