Sweden Ranks 19 in Economic Freedom Report

The Heritage Foundation and the Wall Street Journal have ranked Sweden in 19th place alongside Germany in their 2006 Economic Freedom of the World report.

This is a sharp drop for Sweden, which was ranked 12th out of 157 countries in 2005.

The American think-tank and the newspaper crowned Hong Kong as the world’s freest economy for the 12th year in succession. The index ranks each economy according to the level of government intervention; public spending and income; trade and monetary policy; property rights and regulations.

The ranking by the Washington-based Heritage Foundation is in stark contrast to other recent gauges of economic freedom that have downgraded the southern Chinese territory, criticising it for rising corruption and interference by Beijing.

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