Libya’s ranking was beneath the classification ranges according to the 29th edition of the annual report on economic freedom issued by the Economic Heritage Foundation.
The Foundation explained that Libya was placed at the bottom of the ranking due to the lack of reliable data reported by many international organizations on which the index classification is based, in addition to the lack of official government reports on economic data.
The Foundation indicated that systemic corruption, the weakness of the rule of law, the marginalization of the private sector and the hindering of important factors such as productivity growth, employment, and modernization,were all elements that contributed to Libya’s ranking in the economic index.
The Heritage Foundation also clarified that the economic infrastructure deteriorated significantly during the civil war, and economic uncertainty remains very high as Libya continues to struggle to achieve the rule of law and establish a system of governance.
