You are hereBosnia and Herzegovina still amongst the least business friendly countries in Europe

Bosnia and Herzegovina still amongst the least business friendly countries in Europe


By Jadranko Brkic - Posted on 12 January 2012

In the Wall Street Journal and Heritage Foundation yearly index of economic freedoms report for the 2012, Bosnia and Herzegovina has remained in 104 place, with an economic score of 57.3, which is 0.2 points lower than last year. One place above Bosnia and Herzegovina (103rd) occupies Kenya and one place below (105th) is Fiji. All of Bosnia and Herzegovina's neighbors have scored much better:

 

43rd - Macedonia with economic score of 68.5

69th - Slovenia with economic score of 62.9

72th - Montenegro with economic score of 62.5

83rd - Croatia with economic score of 60.9

98th - Serbia with economic score of 58.0

 

As was the case in the previous 18 years, Hong Kong again took the first place this year as well, with overall economic score of 89.9. It is followed by Singapore with score 87.5 and Australia with score 83.1.

 

Excerpt from the Heritage Foundation report about Bosnia and Herzegovina:

 

Bosnia and Herzegovina’s economic freedom score is 57.3, making its economy the 104th freest in the 2012 Index. Its overall score is 0.2 point worse than last year, with a significant decline in business freedom. Bosnia and Herzegovina is ranked 38th out of 43 countries in the Europe region, and its overall score remains well below the regional average.

 

The foundations of economic freedom are fragile and uneven across the country. Poor protection of property rights and widespread corruption discourage entrepreneurial activity. The rule of law is weak, and local courts are subject to substantial political interference and lack the resources to prosecute complex crimes effectively. Intrusive bureaucracy and costly registration procedures reflect a history of central planning. Inefficient and high public spending perpetuates fiscal burdens imposed by the government.

 

After several years of strong economic growth, Bosnia and Herzegovina’s economic performance has deteriorated, partly because of the global economic slowdown and also because of the generally slow pace of the transition to regulatory efficiency and open-market policies. The entrepreneurial environment remains one of the region’s most discouraging.

 

More details on Bosnia and Herzegovina's rank here: http://www.heritage.org/index/country/BosniaHerzegovina

 

Complete rank list of all the countries in the World: http://www.heritage.org/index/Ranking

Language/Vaš Jezik

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