Ghana places 103 in the survey on economic freedom | General news

Ghana posted a poor performance in the 2018 World Economic Freedom ranking, placing 103 out of 159 countries

The report, which is compiled by the Fraser Institute of the United States of America (USA), takes a critical point. see how economic freedom influences economic growth and per capita incomes of a country around the world.

The report uses a system of 42 data points to rank each country according to five major regions.

the government, the legal system and property rights, the freedom to trade internationally, money and regulation.

Fred McMahon, Fellow of the Fraser Institute and Dr. Michael A. Walker's Chair in Economic Freedom Research, gave a presentation on Ghana's Rankings on the Economic Freedom Index of the United States. world during IMANI's verification of Ghana's economic freedom Monday in Accra

McMahon attributed the decline of Ghana's economic freedom to the national infrastructure [1]. 9659002] He mentioned the size of the government and the setbacks of labor regulation as reasons for the decline.

Ghana's ranking of 103 places it at the bottom of the group, and its lack of economic freedom may be partially attributed to poverty rates and

M. McMahon said that "economic freedom is extremely important when we look around the world, it is the economically free nations that have produced the best life for their citizens."

He added that the economic freedom is the According to him, in economically free countries like Singapore, in South Korea, the poorest 10% earn $ 11,000 per capita per year against $ 1,000 per inhabitant. 10% of the poorest of the least economically free countries.

"Economic freedom is essentially the ability of families or individuals to make decisions."

"It helps to create a society where everyone can go first and foremost by improving others by producing goods and services that others will buy voluntarily.

McMahon said that Ghana's expansion He said: "Ghanaian businesses and workers need the seven or eight billion people in the world as their market and not just the 30 million people in the relatively poor nation of Ghana. "By trading with the world, Ghana can become rich."