Standardised coverage and timely analysis of natural resources he...
Standardised coverage and timely analysis of natural resources helping you to understand the opportunities and risks commodities brings business and economies today.
Corruption continues to hamper economic freedom and fiscal health could be improved, but Romania has entered a period of political stability. Economic development is set to slow, as high inflation erodes purchasing power and has led to greater…
Despite the business landscape enjoying relative economic freedom, political instability has been a common feature of Slovakia. Although joblessness is relatively low, wages are increasing, also adding to very high inflation, whilst the war in…
Although the tax burden is reducing, the Philippines remains ‘mostly unfree’ for economic freedom and geopolitical tensions are growing. Solid remittances helped the economy to outperform peers and infrastructure upgrades could support output…
The global energy crisis has had far-reaching implications for consumers, businesses and entire economies, highlighting the importance of the global energy transition and boosting energy efficiency, while creating opportunities for innovation and…
Canada’s political stability and solid economic freedom form the foundations for strong private sector development. The economy will slow in the short term, whilst the country remains prone to global commodity price changes and is overly reliant on a…
Economic freedom is lacking in Argentina and the political landscape is unstable, whilst corruption continues to infiltrate the highest echelons of power. Hyperinflation is causing economic pain; however, currency weakness could help exporters. A…
Democracy has seen progress in Colombia, but the rule of law is weakened by organised criminal factions. Although slowing, the economy has outperformed peers, but the country is grappling with high inflation and reliance on oil remains substantial.…
China’s increasing influence on Hong Kong’s political scene continues to undermine democracy. The economy is expected to recover well and inflation is under control, but the currency’s peg to the US dollar is leading to higher borrowing costs.…
Weakness in the rule of law negatively impacts economic freedom in Kazakhstan and the state’s authoritarian tendencies remain, but government finances are solid. Although the economy is set to perform relatively well, the export base is undiversified…
Pakistan’s ‘repressed’ status for economic freedom is largely due to political instability and the undue influence of the military. The economy performed better than peers, but suffers from high inflation and interest rates that suppress growth,…
Political opposition and civil liberties are restricted in Saudi Arabia, whilst its economic freedom continues to face challenges. The economy has performed strongly, but is set to slow down and reliance on oil remains high, although inflation is…
Thailand is prone to bouts of political instability, which has adversely affected economic freedom. Moreover, the military’s stranglehold and the influence of the monarch over politics have weakened the rule of law. Returning tourism has helped to…
Turkey is facing rising authoritarianism, along with the undermining of its secular society and democracy. Earthquakes in early 2023 are to negatively affect economic development considerably and increase state spending, whilst they have also clouded…
Economic freedom is negatively impacted by authoritarianism in China, with the state becoming increasingly repressive. The zero-COVID-19 policy has adversely affected the economy, but removal of restrictions could result in strong short-term…
The report analyses the economic state of Sub-Saharan Africa. It seeks to assess the opportunities in the region against the backdrop of its young, large and fast-growing population, as well as the bottlenecks Sub-Saharan Africa faces, including…
With a very low tax burden and reforms aimed at the business landscape, the United Arab Emirates (UAE) enjoys economic freedom, although the state’s grip on society continues. Oil production cuts will moderate economic growth in the short term, but…
Although economic freedom is improving, the rule of law in Vietnam remains weak. Strong economic recovery has outpaced regional peers and inflation is not a major issue, but the external sector is susceptible to supply and demand shocks. Higher…
With its very low tax burden and strong state finances, Bulgaria enjoys economic freedom, although political instability has been common. High inflation is adversely affecting the economy, but joblessness remains low. Although skills shortages are…
South Africa’s political landscape continues to be unstable, hindering economic freedom, whilst social unrest negatively impacts peacefulness. Although inflation is falling, the power crisis is adversely affecting economic development and…
The global economy remains in the midst of a significant slowdown in Q3 2023. Economic activity is dampened as businesses and consumers globally face persistent inflation and further rises in interest rates in most countries. However, strong labour…
This report examines inflation levels and drivers globally and in key countries. Global inflation is moderating, although divergence among the key economies increases. Higher volatility in the energy markets and disruption of agricultural commodities…
A low tax burden adds to Hungary’s economic freedom, but corruption remains an issue and state finances are under pressure. Economic performance has outpaced peers and unemployment is low, but inflation remains very high and will adversely impact…
Economic freedom in Japan continues to benefit the private sector, as does limited corruption, but fiscal health remains weak. Unemployment is low, but the economy faces external forces that are weakening its performance. Ageing and depopulation…
Although corruption is a problem, the Czech Republic has strong adherence to economic freedom and solid government finances. Economic growth is set to slow amidst persistent inflation, but the foreign investment landscape is vibrant. Whilst…
Weakness in the rule of law is negatively impacting economic freedom in Nigeria, as does pervasive corruption. Significant reliance on the oil sector can lead to volatile economic development, whilst persistently high inflation is adversely affecting…
Singapore’s economic freedom is the best in the world, although civil liberties are restricted and corruption is on the rise. Economic momentum is slowing and the external sector is susceptible to global cyclical changes, but inflation is well…
Authoritarianism and corruption mar Iran’s economic freedom, which is repressed, but regional relations are improving. Sanctions are expected to continue to weigh heavily on the economy, which is exacerbating currency weakness and adding to…
Azerbaijan’s authoritarian tendencies undermine democracy, whilst tensions with neighbours are increasing. Maintenance in the oil sector adversely affected the economy and the sector’s dominance continues to result in limited export diversification.…
Whilst some aspects of economic freedom require improvement and corruption is growing, as is political instability, Belgium enjoys a strong rule of law. Inflation has been falling, but the economy is underperforming the peer average, although it is…
Candidacy for European Union (EU) membership could improve Bosnia and Herzegovina’s (BiH) economic freedom, although corruption is pervasive. The country has a relatively diversified economic base and whilst inflation is moderating, the economy is…
Conflict and corruption blight Cameroon’s political landscape and have kept economic freedom depressed. Nevertheless, the economy exhibits strength in the face of global challenges, but inflation remains elevated and reliance on hydrocarbons is…
Although state finances are set to improve through higher taxation, economic freedom is challenging and corruption persists. Owing to lower agricultural output, the economy has slowed down markedly, but inflation is under control and fertiliser…
Although South Korea enjoys significant economic freedom, corruption amongst high-ranking officials is a blot on its political scene. Inflation is low and a trade deal could help exports, but the economy is slowing and foreign investment could be…
Switzerland is one of the world’s most democratic countries, with extensive economic freedom and strong state finances. Although inflation is under control, economic growth is set to slow further. Consumer market appeal continues to be supported by…
Although economic freedom is slipping, the Dominican Republic enjoys political stability, but corruption remains endemic. Economic performance has been solid, but is slowing and remains dependent on tourism, whilst the country continues to attract…
Although the tax burden is increasing, the Netherlands continues to enjoy significant economic freedom and solid state finances. High prices have negatively impacted economic momentum, but inflation is falling and unemployment is low. The quality of…
The United Kingdom’s (UK) political landscape has been volatile, whilst Brexit continues to weigh on economic freedom. Owing to high inflation that has eroded consumer purchasing power and business investment, economic output is set to slow markedly,…
Although Venezuela is repressed for economic freedom and suffers from endemic corruption, possibilities of restructuring its significant debt pile have emerged. The economy remains massively reliant on oil and is slowing, whilst hyperinflation…
Political stability and better government finances are adding to economic freedom in Costa Rica, but corruption is on the rise. Foreign investors continue to flock to the country, but the economy is moderating and prices are falling. Discretionary…
Whilst Georgia’s government finances have improved and a low tax burden benefits businesses, governance is becoming more authoritarian and moving away from democratic ideals. Economic development was extremely robust in 2022, thanks to tourism,…
A weak rule of law is adversely affecting economic freedom, whilst Guatemala is witnessing political instability and suppression of freedom of expression. Although resilient, output growth is slowing as remittances reduce and the US economy falters…
Although Lithuania enjoys economic freedom and solid state finances, relations with neighbours have worsened and add to uncertainty. The economy has been hindered by the highest inflation rate in the eurozone and output growth could enter negative…
Norway enjoys considerable economic freedom and adheres strongly to the rule of law, whilst state finances are in rude health. Output development is slowing, owing to challenges for the global economy, but inflation is under control and exports have…
Although economic freedom has worsened and political instability persists, state finances have improved and taxation is low. North Macedonia’s economy has struggled under the weight of elevated inflation, but this is falling and foreign investment…
Low taxation adds to Qatar’s economic freedom, but democracy is lacking and power is hereditary. Hydrocarbons are the mainstay of the economy, making the export base very undiversified, but inflation is falling and infrastructure is expected to be…
Turkmenistan’s authoritarian tendencies have repressed economic freedom, although state finances remain solid. Economic growth has slowed and is highly dependent on hydrocarbons, but infrastructure investment should be supportive in the short run.…
Algeria is repressed for economic freedom and corruption is endemic. Whilst the export base relies heavily on hydrocarbons, its progress will remain positive, given demand from Europe for natural gas, but the economy is set to underperform peers in…
The global agriculture industry recorded moderate positive growth in 2022, mainly driven by high commodity prices and global food inflation. Climate change, natural disasters, rising labour shortages, geopolitical tensions, rising protectionism and…
Considerable state involvement hinders economic freedom in Bolivia, whilst government finances remain weak and a threat to stability. Although inflation has been controlled effectively, through subsidies and solid food production, the economy is…
A low corporate tax rate and better finances are leading to enhanced economic freedom in Croatia, although corruption continues to be an issue and politics is moving to the right. Adoption of the euro could boost investment and tourism, but the…