As stated in the 19th Economic Freedom Index jointly created by Washington D.C.-based The Heritage Foundation and The Wall Street Journal, the Philippines climbed 10 spots to 97th when it comes to economic freedom. The country scored 58.2 out of 100.
The main driver seen to have caused the improvement was the strong initiative of the local government against corruption. However, the Philippines is still included in the "mostly unfree" bracket, which ranges from 50 to 59.9 points.
On the other hand, they said it was still a huge improvement compared to the 0.1 growth accrued globally. The Philippines was also observed to have a stern government that keeps working on legislative reforms to foster a better business environment that can help create more jobs.