MANILA, Philippines – From being deemed as a “mostly unfree” economy in previous years, the Philippines returned to the “moderately free” category over the last two years under the Aquino administration, according to Washington-based Heritage Foundation, a conservative think-tank.

The 2015 Index of Economic Freedom cited the Aquino administration’s clear government policies that are delivering substantial improvements in the economy, thus improving the Philippines’ standing from 89th in 2014 to 76th in 2015, according to the latest survey results covering 184 countries in the region.

The Philippines scored 62.2 out of a possible 100 – above the global and regional averages – thus allowing the Philippines to emerge in 13th spot among 42 Asia-Pacific countries that were surveyed.

The Philippines increased its scores in such indicators as financial freedom (+10); freedom from corruption (+9.9); labor freedom (+8.5); and monetary freedom (+0.8).

“The Philippines’ performance is one of the best by far in any country where we have the Index,” said Ambassador Terry Miller, director of the Center for International Trade and Economics at the Heritage Foundation.



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