PH drops in economic freedom poll

THE Philippines dropped three notches in a worldwide poll of economic freedom on account of lower scores for government integrity, monetary freedom and property rights, US-based think tank Heritage Foundation said in its latest annual survey.

In the 2018 Index of Economic Freedom (IEF), which covers 180 countries, the Philippines plunged to the 61st spot from 58th in the 2017 survey.

The country’s economic freedom score was 65, easing by 0.6 points from the previous year’s score. The score was higher than the world average of 61.1 and the

The IEF measures economic freedom based on 12 quantitative and qualitative factors, grouped into four broad categories, or pillars, of economic freedom.

The report said a rapid decline in President Rodrigo Duterte’s - dence to wane by the end of 2017.

It added that the country’s judicial system remains weak and

Judicial independence, the report said, is strong but the courts pay, intimidation, delays and long case backlogs.

“Corruption and cronyism are pervasive, and the country is a regional money-laundering hub. The President’s strong-arm tactics reinforce a culture of impunity,” the report said.