New Zealand 3rd Freest Economy in World

January 31, 2015 New Zealand FinanceNew Zealand Taxation

New Zealand has been named the third freest economy in the world, an improvement since last year.

In its annual Economic Freedom Index, the Heritage Foundation has concluded that New Zealand has the 3rd freest economy in the world, only behind Singapore and Hong Kong.

New Zealand was scored 82.1 points on the index, compared to 89.6 and 89.4 in Hong Kong and Singapore, while the world average sits at a level of 60.4 points.

It was noted that since 2014 New Zealand has seen an improvement in its ranking for labor freedom, monetary freedom, and government spending, which outweighed the relatively smaller drops in fiscal freedom and freedom from corruption.

Australia was ranked one spot behind New Zealand, and received a score of 81.4 points.

Photo By: Nick Kean