Cape Verde’s economic freedom score is 66.1, making its economy the 60th freest in the 2014 Index. Its overall score is 2.4 points better than last year, with substantial gains in labor freedom, business freedom, investment freedom, and the management of government spending. Cape Verde is ranked 3rd out of 46 countries in the Sub-Saharan Africa region, and its overall score is higher than the global and regional averages.
Over the 20-year history of the Index, Cape Verde has advanced its economic freedom score by 16.4 points, a top 20 improvement. The overall increase has been broad-based in seven of the 10 economic freedoms including trade freedom, financial freedom, the management of government spending, and freedom from corruption, scores for which have improved approximately 25 points or more.
Achieving its highest economic freedom score ever in the 2014 Index, Cape Verde has advanced well into the ranks of the “moderately free.” While moving toward higher levels of economic freedom, it has made considerable progress in income growth and poverty reduction. The government continues to support policies that promote free trade and open markets. Read More