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St. Vincent economy among region’s freest – US group

KINGSTOWN, St. Vincent – A United Stated think tank says that his country, along with St. Lucia, Barbados, and The Bahamas and St. Vincent and the Grenadines has registered the most economic freedom in the region.

This country’s economic freedom score is 66.5, making its economy the 52nd freest in the 2012 Index, according to CARICOM News Network.

The score is 0.4 point lower than last year, with declines in business freedom and the control of government spending outweighing a modest increase in monetary stability, the report further stated.

This country ranked 10th out of 29 countries in the South and Central America/Caribbean, and its score is well above the regional average.

The index looks at a series of factors, including the rule of law, limited government, regulatory efficiency and open markets.

The Heritage Foundation in partnership with the Wall Street Journal, in its 2012 Index of Economic Freedom ranked St. Lucia 24th in the world, Barbados 37th; The Bahamas 46th; St. Vincent and the Grenadines 52nd; Jamaica 58th; Trinidad and Tobago 63rd; Belize 77th; Dominica 80th; Suriname 133rd; Guyana 137th and Haiti 142nd, CARICOM News Network has reported.

“St. Lucia’s economic freedom score is 71.3, making its economy the 24th freest in the 2012 Index,” the Heritage Foundation said.

“Cuba’s economic freedom score is 28.3, making its economy one of the world’s least free.”

Other Caribbean Community (CARICOM) countries ranked by the Foundation include Belize 77th; Dominica 80th; Suriname 133rd; Guyana 137th and Haiti 142nd.

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