The Sultanate of Oman has risen 39 places in the Economic Freedom Index for 2024, which indicates an improvement in the economic performance of the Sultanate, as the index expresses one of the most important parts of the new institutional economy, and examines the relationship between political and economic institutions and economic development in the country.
The index, issued by the Heritage Foundation, measures the freedom of laws, regulations, taxes, and economic policies of different countries, and notes that more economically free countries tend to achieve higher rates of economic growth and per capita income, which enhances the economic and societal well-being of individuals by increasing GDP per capita.
The Sultanate currently ranks 56th globally in the Economic Freedom Index compared to 95 in 2023, and compared to the 2022 census, the Sultanate has achieved progress by more than 50 places on this index, exceeding the regional and global average.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
