DOHA: Qatar is the third freest economy in the Middle East and North Africa (Mena) region, according to the 2015 Index of Economic Freedom, released by Heritage Foundation.
Qatar’s economic freedom score is 70.8, making its economy the 32nd freest in the 2015 Index.
Bahrain has come at the top in Mena in the ranking. Globally, the index is led by Hong Kong, with a score of 89.6, followed by Singapore, New Zealand, Australia and Switzerland.
Countries with the least economic freedom are North Korea, Cuba, Venezuela, Zimbabwe and Eritrea.
“With vast oil and gas reserves, Qatar enjoys one of the world’s highest standards of living.
“Efforts to diversify the economy and reduce reliance on the energy sector have been only moderately successful.
“The oil and gas industries still contribute about half of GDP,” said the report on Economic Freedom.
“Building on open-market policies, the government is trying to position Qatar as a future logistics and financial hub,” the report added.
The Peninsula/QNA
