Ammon News - AMMONNEWS - Jordan ranked seventh globally and second in the Arab world in economic freedom, according to the Canadian Fraser Institute’s 2015 annual report.

The Economic Freedom of the World measures the economic freedom (levels of personal choice, ability to enter markets, security of privately owned property, rule of law, etc.) by analyzing the policies and institutions of 157 countries and territories.

It is the world’s premier measurement of economic freedom, using 42 distinct variables to an index, ranking countries based on economic freedom, which is measured in five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business.

According to the report, based on 2013 statistics (the most recent year of available data), the top 10 most economically free jurisdictions are Hong Kong, Singapore, New Zealand, Switzerland, United Arab Emirates, Mauritius, Jordan, Ireland, Canada, with the United Kingdom and Chile tied for 10th.

It also revealed that Jordan came second in the Arab world, after the United Arab Emirates, though with a narrow margin, but those who prepared the data predict that all indicators point that the Kingdom will do better in the next report.

The report, which is a key reference for investors in determining the destination for their investments, cites key indicators as points of strength in the Jordanian economy, foremost of which are access to safe cash reserves and freedom to trade internationally.

The Kingdom's improvement in the annual report is deemed as a national achievement that reflects the government's efforts to spur the economy despite the regional political and military tensions.