Cyprus Ranked 24th in the World for Economic Freedom

The prestigious Heritage Foundation ranked Cyprus the 24th freest in its 2010 Index of Economic Freedom and 13th of 43 in its region.

According to the Heritage Foundation:

Cyprus performs well in many of the 10 economic freedoms. Business growth is facilitated by a relatively transparent and efficient regulatory framework. The financial sector has also become more open and efficient with strict but sensible supervision, and the government has taken measures to improve its public finance.

Among the 10 factors analyzed by the Heritage Foundation, Cyprus scored best on Monetary Freedom (82.9),  Trade Freedom (82.5), Business Freedom (80.3) and Property Rights (80.0). Its lowest scores where in Government Spending (44.8) and Labor Freedom (61.5).

The full Heritage Foundation analysis can be found at: