Sunday, September 24, 2006

Economic Freedom Index 2006

From Heritage Foundation, the Philippines is 'Mostly Unfree' category!
Wealth comes from the actions of people, not the actions of government, and the freer people are to direct their efforts to where they are most productive, the greater the wealth created.

Summary analysis:
The government is slow in promoting privatization, as the state still owns a majority of Filipino corporations. The chief obstacles to stable growth remain high tax rates, poor infrastructure, extensive government ownership of business, low foreign investment, and entrenched government corruption.

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