Zimbabwe’s economy is most restrained and lies in the bottom five in the world rankings due to policy inconsistencies, corruption and government interference, according to a survey conducted by a leading Washington-based think tank.
The 2015 Index of Economic Freedom, which is developed by the Heritage Foundation in partnership with The Wall Street Journal, ranks Zimbabwe 175th among 178 countries of the world in terms of economic freedom.
Zimbabwe is only on top of Venezuela, Cuba and North Korea, while Hong Kong, Singapore, New Zealand Switzerland, Chile, Estonia, Austria, Ireland, Canada and Mauritius are in the top ten rankings.
Last year Zimbabwe was ranked 176th out of 178.
Economist Godfrey Kanyenze of the Labour and Economic Development Research Institute of Zimbabwe says Zimbabwe can still work its way out of this embarrassment but it’s only that it does not have the political will to carry out the necessary reforms.
Studio 7 failed to reach Finance Minister Patrick Chinamasa for a comment.