- According to The Index of Economic Freedom, which is an annual index and ranking made by The Heritage Foundation and The Wall Street Journal since 1995 to measure the degree of economic freedom in the world’s nations, Oman’s fiscal freedom including investment and it’s score of 67.4 in the 2014 report makes it the 48th freest economy in the world.
- “Overall economic freedom remains constrained by state involvement in the economy through public enterprises.” This statement is according to the Heritage Foundation and the Wall Street Journal.
- Oman’s economy has been rated “moderately free” for the past 19 years.
- Of the six-nation grouping in the index, only Saudi Arabia advanced by five notches to a global ranking of 77.
- Kuwait sustained the biggest drop, by 10 notches to 76th, ahead only of Saudi Arabia within the GCC.
- Like Oman, Qatar also experienced declines by three notches, mainly reflecting the steady involvement of the state in the economy.
- Bahrain lost a single position due to questionable practices.
- The 2014 report by The Heritage Foundation and The Wall Street Journal, covering 178 countries, finds economic freedom advancing worldwide despite challenging economic and political environments.