|Lebanon ranks 2nd in Fraser index
|In the study made by the Fraser Institute, Lebanon has ranked 2nd in Arab world in economic freedom, on a study made on 15 Arab countries.
The index located in Lebanon This Week, the weekly report of the Byblos bank, estimate the level of economic freedom in each country, on a study based on 18 variables that are divided in five broad factors of economic freedom.
The variable measure the size of the government, the legal structure and respect of property right, access on sovereign money which preserve stable real purchasing power by politics from the government. The factor also measures freedom on international trade and credit labor and business regulation.
Lebanon scored 7.8 on the overall, which is an improvement in comparison with the 7.6 scored in 2008 and the 7.7 in 2007 and 2006. The score also exceed the 7.1 points average of all the country.
Lebanon has obtained the 1st place for the 4th year in a row in the category that measure government size in comparison with its economy. He has also obtained in its access to sovereign money. This category measures the extent of the sovereign money and its value on a specific period of time.
As far as the legal structure and the respect of property right, Lebanon has obtained the same place as Djibouti. This category verifies that economic laws are equitable and transparent for all citizens.
Lebanon was placed just after Saudi Arabia, for its liberty to exchange on an international level. He tied with Oman in terms of Regulation of Credit, Labor and Business. This criterion checks the extent in which the regulatory burden blocks the formation or the advancement of different businesses, the free movement of labor and ability to obtain or advance credit.
The Fraser Institute is an independent research organization, based in Canada, who study and measure the impact of competition within the market and government intervention on the welfare of citizen.