The Fraser Institute’s recently published 2023 Economic Freedom of the World Annual Report ranked Morocco in the 97th spot among 165 countries. With a score of 6.42, the report placed the North African country in the lower quartile of nations assessed by their economic freedom.
The report measured the degree to which a country’s policies and institutions support economic freedom, based on factors like personal choice, voluntary exchange, market competition, and property rights.
Fraser Institute broke down the assessment into five key areas, each receiving a rating out of 10.
Morocco received a rating of 6.56 in the “Size of Government” category, reflecting the extent of government spending, taxation, and the influence of government-controlled enterprises.
In the “Legal System and Property Rights” category, the country scored 5.25, reflecting the level of protection of individuals and their property rights, including the impartiality of the judiciary.
Meanwhile, the country obtained a rating of 7.21 in the “Sound Money” area, indicating the country’s efforts to maintain stable economic conditions and safeguard against the erosion of earnings and savings due to inflation.
In the “Freedom to Trade Internationally” category, Morocco received a 6.58 score. This area assesses countries’ commitment to facilitating international trade, minimizing impediments, and fostering an environment conducive to free exchange.
In the domain of regulation, Morocco received a score of 6.51, reflecting efforts to reduce restrictions on both domestic and international trade, as well as other business operations.
The Report categorized countries into four quartiles, from best to worst in terms of economic freedom. Morocco’s placement in the third quartile signifies that the country ranks moderately in terms of economic freedom.
Singapore led the rankings with a score of 8.56, followed closely by Hong Kong at 8.55 in the second spot and Switzerland at 8.47 in third place.
Meanwhile, the report identified the ten lowest-rated countries in terms of economic freedom as the Republic of Congo, Algeria, Argentina, Libya, Iran, Yemen, Sudan, Syria, Zimbabwe, and Venezuela.