In the latest ranking of Freedom of Economic Freedom of the World (EFW) 2025, published by Canadian The Fraser Institute, Slovakia fell by seven seats to 49th place from 165 countries evaluated. In the overall evaluation, Hong Kong was the first place followed by Singapore and New Zealand. Informed about the Slovak Institute of Freedom and Business, which cooperated in the preparation of the ranking.
- Slovakia fell to 49. The place in the ranking of business freedom.
- The evaluation of Slovakia worsened the size of the state apparatus at 108.
- Slovakia was the best rating for freedom of international trade.
- Global Economic Freedom has been declining since 2020.
In the top ten countries, Switzerland, the USA, Ireland, Australia, Taiwan, Denmark and the Netherlands were placed. Of our neighbors, only the Czech Republic is better 29th place and Austria on the 33rd place. Hungary ended up in the 61th place of the ranking and Poland in the 76th place. The results were processed by the Institute based on data from 2023.
“Slovakia is losing competitiveness for growing regulations and shortcomings in the legal system. In a duel to create favorable business conditions and investment we are lagging behind many EU countries, not to mention the best countries in the world,” Ján Oravec, chairman of the Institute of Freedom and Business (ISP), who is the exclusive partner of The Fraser Institute for the Slovak Republic in the Economic Freedom of the World 2025 project.
Slovakia did not fit into the first hundred countries in the area of the size and role of the state apparatus and ended up in 108.which is the worst rated area of all five criteria. This area evaluates government, tax and state sector spending.
In the area of the legal system and the right of property judging The independence of the courts, the protection of ownership and the rule of law, Slovakia was placed in 40th place. In the area of currency stability that evaluates inflation, increase in circulation and freedom to own a foreign currency, Slovakia is placed in 67th place.
Ten rungs better result, 57th place, brought an assessment of the regulations of the financial sector, labor market and business and the best result, 29th place, Slovakia recorded in assessing the freedom of international trade, which includes duties, business barriers and capital movement. Slovakia benefits from the EU and the openness of the economy.
In recent years, Slovakia has been in the ranking in the fourth or fifth ten countries. The best result was achieved in 2021 when it ended up at 40.and the worst one year earlier when it fell to 52.
The ranking shows that economic freedom has been declining globally since 2020, which has erased profits from more than a decade of its growth before. Economic freedom globally fell from the top in 2019, influenced by pandemic, wars, inflation and protectionism. The authors of the report warn that the decline in economic freedom leads to lower economic growth, poverty and worse quality of life.
