The State of Kuwait ranked third in terms of the largest public sector employment rate in the world after Cuba and the Kurdistan region of Iraq, according to the Index of Economic Freedom in the World for 2021, which was recently issued by the Canadian Fraser Institute.
The Economic Freedom Index measures the support provided by institutions and policies in 165 countries to economic freedom, while personal choice and voluntary exchange, freedom of market entry and competition, individual safety, and individual-owned real estate are essential components of economic freedom.
The institute uses 42 elements to build the index, which measures economic freedom in 5 main areas: the size of the government, which is meant by spending, taxes and projects, the legal structure and guarantee of property rights, money and prices, which is meant by inflation and the growth of funds that have relatively the same purchasing power over time.
It also includes freedom of trade at the international level, and legislation related to credit facilities, the labor market, and business activities.
In the sub-indicators, Kuwait scored 5.96 points in the size of the government, ranking 127th globally, while in the legal system and property rights, it scored 4.9 points, ranking 94th in this field.
Kuwait ranked 110th globally in the money and prices index, with 8 points, and in the field of freedom of trade at the international level, it scored 7.3 points, to rank 79th globally.
As for the legislation regulating credit, the labor market, and business activities, Kuwait scored 7.4 points, ranking 72 globally.
In the fifth area related to legislation, Kuwait ranked first in the world in legislation regulating the credit market, with a score of 10 points, while it ranked 124th in labor market legislation with 5.5 points, and 96th place in legislation for business activities with 6.6 points.
At the Arab level, Jordan came first in the Index of Economic Freedom and ranked 50 globally, followed by Bahrain in 65th place, then the UAE third in 68th globally, Qatar in 80th place, then Saudi Arabia at 91st, Lebanon at 95th, Morocco and Oman at 102nd, then Djibouti at 105th.
Globally, Hong Kong came first, followed by Singapore, New Zealand, Switzerland, Georgia, the United States, Iceland, Lithuania, Australia and Denmark.
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